Crawling Peg

英文名称：Crawling Peg 中文名称：有限浮动汇率（制）
一种汇率调整的制度，允许货币汇率的值在固定汇率水平范围内上涨或下跌。这一固定的货币汇率值也可以随着市场因素变化，例如通货膨胀，而经常进行微小调整。 
e.g. The State Bank of Vietnam will continue to set each day's starting rate for the dong, allowing it to control trends over the medium term and encourage exchange-rate stability as it moves from the existing crawling peg system to a more liberal foreign exchange regime.

A system of exchange rate adjustment in which a currency with a fixed exchange rate is allowed to fluctuate within a band of rates. The par value of the stated currency is also adjusted frequently due to market factors such as inflation. This gradual shift of the currency's par value is done as an alternative to a sudden and significant devaluation of the currency. 

For example, in the 1990s, Mexico had fixed its peso with the U.S. dollar. However, due to the significant inflation in Mexico, as compared to the U.S., it was evident that the peso would need to be severely devalued. Because a rapid devaluation would create instability, Mexico put into place a crawling peg exchange rate adjustment system, and the peso was slowly devalued toward a more appropriate exchange rate.