The article examines how exchange rates and their arrangements affect price stability in MENA countries. It looks at whether fixed peg arrangements helped keep inflation low from 1975 to 2005. The study focuses on whether countries with fixed exchange rates were successful in achieving stable prices. The researchers analyzed data from 18 MENA countries to see if pegged exchange rates led to stable inflation rates. The study aims to contribute to the understanding of how exchange rate policies impact inflation in the region.