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Bretton Woods Agreement |
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Bretton Woods Agreement An agreement made in Bretton Woods, United States, in 1944. It set fixed exchange rates for major currencies and subsequently established the IMF. Notes: This agreement governed currency relationships until the early 1970s when a floating exchange rate system was adopted.Bretton Woods Agreement An agreement signed by the original United Nations members in 1944 that established the International Monetary Fund (IMF) and the post-World War II international monetary system of fixed exchange rates. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Even before the Bretton Woods system of fixed exchange rates gave way to the era of floating currencies in 1973, the BIS had become an important platform for ever-closer cooperation and integration of monetary policy at the European Economic Community level. announced formal suspension of dollar convertibility into gold, effectively putting the world fully onto a dollar standard with no gold backing, thereby ripping apart the central provision of the 1944 Bretton Woods system. The Bretton Woods system was never the stable, "non-political" system Keynes wanted. |
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Bretton Woods system
