Describe the purposes of a fixed currency regime

A fixed exchange rate is a regime applied by a government or central bank ties the country's currency official exchange rate to another country's currency or the price of gold. The purpose of a fixed exchange rate system is to keep a currency's value within a narrow band

in an absolute  monarchy, the  monarchrules as an autocrat, with absolutepower  over the state and government — for example, the right to rule by decree, promulgate laws, and impose punishments. the  monarch isnominally sovereign but the electorate, through their legislature, exercise political sovereignty.

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