Definition of the word exorbitantly

The word "exorbitantly" originated in the late 17th century and comes from the Latin word "exorbitāre," which means "to go beyond boundaries or limits." In the context of economics, "exorbitant" initially referred to interest rates that were beyond the normal market levels. In the early 1970s, the term "exorbitant" came to be associated with the value of the U.S. Dollar, which was pegged at an artificially high rate against other currencies as part of the Bretton Woods system. This led to a situation where U.S. Borrowing costs were lower than those of other nations, which was perceived as an unfair advantage. After the collapse of the Bretton Woods system, "exorbitantly" began to be used more broadly to describe high prices or costs that exceed any reasonable limit, whether in economics or other contexts such as pricing in markets, fees in contracts, or costs in expenses. Today, the word "exorbitantly" is commonly used to describe excessively high prices, fees, or costs that surpass what is considered fair, reasonable, or expected, given the prevailing market conditions or circumstances.