PEG Meaning of PEG in English I.nounADJECTIVE▪ wooden▪ clothes ( BrE ) ( clothespin in AmE )▪ tent II.verbPeg is used with these nouns as the object: ↑ currency , ↑ rate Oxford Collocations English Dictionary. Оксфордский английский словарь словосочетаний . 2012