Is “Pegging” a Scrabble word?

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Yes
PEGGING
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Pegging

/ˈpɛɡɪŋ/

verb
  1. 1.To fasten using a peg.

    Let's peg the rug to the floor.

  2. 2.To affix or pin.

    I found a tack and pegged your picture to the bulletin board.

  3. 3.To fix a value or price.

    China's currency is no longer pegged to the American dollar.

noun
  1. 1.The act of fastening with a peg.

  2. 2.Pegs collectively.

  3. 3.The activity of artificial climbing on crags and in quarries outside the main mountain areas.