I thought it is pegged to the USD and exchange rates for other currencies are calculated accordingly.
Morning datguyian, - I checked it out to get some clarification. Here's the
source I took it from

Thanks David. Hm not sure what to think about that explanation. Maybe there is more to it in the white paper, but I am too lazy too dig that up. This explanation is a bit vague. Talking about lower bounds and pegged to something and another something, no idea.