The Breton Woods Agreement is the landmark system for monetary and exchange rate management established in 1944. It was developed at the United Nations Monetary and Financial Conference held in Breton woods,New Hampshire,from July1 to July 22,1944.
Under the agreement,currencies were pegged to the price of gold, and the U.S dollar was seen as a reserve currency linked to the price of gold.
Under the agreement,currencies were pegged to the price of gold, and the U.S dollar was seen as a reserve currency linked to the price of gold.
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