1 a : to fasten (something) with pegs
Is the tent pegged down all the way?
(Brit) She was outside pegging the laundry to the clothesline.
b : to put a peg into (something)
He pegged the boards.
2 a : to keep (something, such as a price) at a particular level or rate
peg the price of wheat at its current level
b : to link (something) to another amount or value
The foreign currency is pegged to the U.S. dollar. (=its value changes when the U.S. dollar’s value does)
His bonus is pegged to how many sales he makes each year for the company.
3 informal : to think of or identify (someone) as a certain kind of person
The salesman had me pegged (=understood what kind of person I am) in a matter of minutes.
— usually + as
She pegged him right away as a nice guy.
— sometimes + for
She had him pegged for a liar.