What is the difference between Pegging and Parity value of currency????

What is the difference between Pegging and Parity value of currency???? be Ot on Imports ot domestic currency means a rise •n the of currency rupee' foreign (say. Sy Now, orw• rupex• be S. mth oi monev, more can bc purchased Icom USA. It leads increase In imports I SA as American will become relatnely cheaper ES OF FOREIGN EXCHANGE RATES three main type3 0' ochange rate svsterns are: Fi«d Exchange Rate System (or pegged E«change Rate System). 2. Eschange Rate System (or Floating Eschange Rate System). 3 . Floating Ratc System. ed Exchange Rate System exchange ratc system refers to a system in which exchange rate for a aarrenry is fixed by The Of adopting this system is 'o ensure stability in • TO Rhieve stability. government undertakes to buy foreign currencv when the exchange rate Weaker and foreign currency when rate Oi exchange gets stronger • for thus. government has to maintain large currencies to maintain the exchange rote at the level it. • Undef thus system. each country keeps value oi its currency fi«d in terms of some • Tluseyternalstandardcanbegold, silver, other precious metal. another country'scurrency even some internationally agreed unit account • When value ot is t.ed to the value oi another currency, it is known as • value o i a currency is fixed tn te rms of some other currency or i t i' known as •Pa=raly$ of currency, ot Fixed Escharge Rate System earet times. exchange rates ot all major countnes were fixed according to tho Gold Standald ( 1870-191 a' and the Bretton Woods Standard 1044•1971). to Gold Standard, eaterna' values cur-rexes "ere manta-ed by the. Wrns cf CeÅtJåi sank ot each country was ready to buy and 8011 quantities ot a' a fixed n terms o' Its own currency For example. El 5 gm 01 gold and Sl 2 gm then eacnange rate be E 1 = S25 Accc.d•ng to Bret!qrp Weeds Stoodprg, gold was replaced tw uS donar as the •core' ot system a" retated to US do.Var at a 'ic•derchango system gavo txrth to Internationa Monetary Fund (IMF) as the central nstitu!jon In the monetary system