The crawling peg differs from the system of adjustable pegged rates. Under the
adjustable peg, currencies are tied to a par value that changes infrequently (perhaps
once every several years) but suddenly, usually in large jumps. The idea behind the
crawling peg is that a nation can make small, frequent changes in par values, perhaps
several times a year, so that they creep along slowly in response to evolving market
conditions.