Four Ways Countries Can Lack Monetary Sovereignty

• A country can peg value of its currency to a different currency

  • 65 countries issue their own currency but try to peg that currency to U.S. dollar

    • Fixed exchange rate

    • To maintain peg, must accumulate U.S. dollar reserves

Investopedia on Countries Pegging to #Dollar

• Argentina, 1992 - 2001: "peso convertible": 1-to-1 peg to dollar

Argentina 1992-2001