linked exchange rate

yes,

FERS:
central bank have to intervene the foregin exchange market
by selling or buying foreign currency in the ER market
(in. or de. domestic currency)

LERS:
central bank do not have to intervene the foregin exchange market
arbitrage will elimilate the difference between market rate n linked rate,
n make the market rate moves towards the linked rate.

FERS:
trade surplus:
market exchange rate of domestic currency have appreciate pressure.
(equilibrium is above the fixed rate)
the central bank will buy foreign currency n sell domestic currency to maintain the fixed rate.
the foregin exchange reserve of the country will increase.

trade deficit:
the foregin exchange reserve of the country will decrease.