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Louvre Accord

   Also found in: Wikipedia 0.01 sec.
Louvre Accord
1987 agreement between countries to attempt to stabilize the value of the US dollar.


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Subsequently, the Louvre Accord in France was signed, with the aim of putting an end to government intervention in the currency market.
In spite of the fact that the Tokyo declaration chose the expression, "countries whose currencies constitute the SDR" and did not use the "G5" designation, the G5 meeting was held first for the Louvre Accord in February 1987, and the G7 was treated as a forum for ex post facto authorization.
The subsequent Louvre Accord of February 22, 1987 set up informal target zones for the dollar against the yen and the Deutsche mark, zones that were definitively breached after the October 1987 stock market crash.
 
 
 
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