In the context of international finance, currencies can be managed under different exchange rate regimes. These regimes determine how exchange rates are set and how they fluctuate against other currencies. One common regime is the fixed exchange rate, where a country's currency value is tied or pegged to another major currency or a basket of currencies. In contrast, a flexible or floating exchange rate regime allows the currency's value to fluctuate according to market forces.
Which of the following is an example of a fixed exchange rate regime?