Which of the following describes the Currency Board system the most? Question 11Answer A country's currency exchange rate is fixed to an "anchor currency" and converted to it on demand; the reserves are held in this foreign currency. The exchange rate of a country's currency is set by the Forex market based on demand and supply. The value of a country's currency is fixed to a reference currency, such as the U.S. dollar or euro. The value of a country's currency is fixed to the price of gold