paritypar·i·ty /ˈpærəti/ noun (plural parities)1[uncountableU] the state of being the same as or equal to something elseparity withThe country is hoping to move toward economic parity with (=having the same wealth as) the rest of Europe.
The price cuts bring the company’s prices into parity with those charged by AT&T.
→ product parity2[uncountableU]COMPUTING a system for finding mistakes when information is sent from one computer or anotherParity is used in many hardware applications where detecting an error is helpful.
3[uncountableU]FINANCE when one unit of a currency or COMMODITY (=oil, metal, farm product etc) is worth the same as one unit of anotherPlatinum prices could decline further, perhaps reaching parity with gold.
→ swap parity4[countableC]ECONOMICS a figure representing what a particular currency is worth in another currency at a particular timeOne of the parities they will be checking is the dollar/yen rate.
→ fixed parity → purchasing power parity