the mechanism formerly used in the European Monetary System in which participating governments committed themselves to maintain the values of their currencies in relation to the ECU ERM
Also Exchange Rate Mechanism II. the mechanism used to stabilize the currencies of European Union states that have not adopted the euro but wish to maintain the value of their currency in relation to it ERM II
- Exchange server
noun 1. . noun 1. a monetary reserve established by a country to provide funds for maintaining the official exchange rates of its currency by equalizing the buying and selling of foreign exchange.
noun 1. a secondary-school or college student who studies for a period, usually one year, at a foreign institution as part of a reciprocal program between two institutions or countries.
- Exchange transfusion
exchange transfusion n. The removal of most of a patient’s blood followed by introduction of an equal amount from donors. Also called substitution transfusion, total transfusion.