The term pegging, derived from the verb "to peg" (to hold stable or fixed), has multiple definitions when used alone.
As a financial term, pegging refers to when a country fixes the exchange rate between its currency and another country's, or to fix wages at a set rate. This is by far the most common use of the term.
As in gardening (or similarly), pegging is used to describe affixing something (such as a growing plant, or hanging laundry) to a peg, stake, or line for stability. This is the second most common use of the term.
As a mnemonic term, pegging is the use of a specific technique to help remember lists.
As a sexual term, pegging is a neologism referring to a woman using a strap-on dildo to penetrate a man's anus, and may sometimes be used for female-female strap-on anal sex.
In cribbage, pegging is the same as scoring, and refers to the use of pegs to keep score; pegging out is to win the game.
In clockmaking, pegging out can also refer to putting a sharpened piece of pegwood in to a clock plate hole and rotate to clean the hole.
In sport, pegging is the act of attaching a peg to a person's clothing. It is often used by groups of people as a bonding activity, but can sometimes be used maliciously to single people out.
In manufacturing, pegging means to assign raw materials to production job.
In video game communities, the word pegging is occasionally used to refer to the successful deployment of "sticky" weapons which attach themselves to opposing players, such as the plasma grenade from Halo: Combat Evolved.
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The basic types are a floating exchange rate, where the market dictates the movements of the exchange rate, a Pegged Float, where the central bank keeps the rate from deviating too far from a target band or value, and the peggedexchange rate, which ties the currency to another currency, mostly more widespread currencies s.a.
Pegged with Horizontal Bands: The currency is allowed to fluctuate in a fixed band (bigger than 1%) around a central rate.
In case of a separate currency, also known as a Currency Board arrangement, the domestic currency is backed one to one by foreign reserves.
For example, the Asian financial crisis was ameliorated by the fixedexchange rate of the Chinese renminbi, and the IMF and the World Bank now acknowledge that Malaysia's adoption of a peg to the US dollar in the aftermath of the same crisis was highly successful.
This masking of information created volatility which encouraged speculators to "attack" the peggedcurrencies and as a response these countries to attempt to defend their currency rather than allow it to devalue.
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