peg
word
Definition
A peg is a small object used to hold, fasten, or hang something, such as a clothes peg or a wooden peg in the ground. As a verb, it can also mean to fix something at a particular level or value.
Usage & Nuances
Most often, learners meet 'peg' as a noun in British English for a 'clothes peg'. In other contexts it can mean a hook or pin, and in finance/economics 'peg' means to fix a currency or price: 'peg the exchange rate'. Don't confuse it with 'pin' or 'hook' when the exact shape matters.
Example Sentences
She used a peg to hang her coat by the door.
basic
Put a peg on the bag so it stays closed.
basic
The bank pegged the currency to the dollar.
basic
I can't find any pegs for the laundry.
natural
They've pegged their hopes on this new product.
natural
Let's peg the budget at five thousand dollars for now.
natural