An adjustable peg exchange rate regime is one where
◦ interest rates are fixed for a periods of time but may be devalued/revalued if a deficit/surplus becomes substantial.
◦ exchange rates and interest rates are fixed for a periods of time but interest rates may be devalued/revalued if a deficit/surplus becomes substantial.
◦ exchange rates are fixed at a level that equates relative prices and are moved as prices change.
◦ exchange rates are fixed for a periods of time but may be devalued/revalued if a deficit/surplus becomes substantial.