Fixing

A method of determining rates by normally finding a rate that balances buyers to sellers. Fixing also refers to establishing a price for a commodity or goods. If the price that is fixed is considered “legal” it means that the government established it. Illegal fixing is when the price is determined by other parties. The government can fix a price on a good depending on what they feel is better for the current economy. Such a process occurs either once or twice daily at defined times. Used by some currencies particularly for establishing tourist rates . The system is also used in the London Bullion market.