/ ˈpærəti; NAmE / noun ( pl. -ies )
1.
[ U ] parity (with sb/sth) | parity (between A and B) ( formal ) the state of being equal, especially the state of having equal pay or status :
Prison officers are demanding pay parity with the police force.
2.
[ U , C ] ( finance ) the fact of the units of money of two different countries being equal :
to achieve parity with the dollar
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WORD ORIGIN
late 16th cent.: from late Latin paritas , from par equal.