An agreement signed in 1944 that outlined rules and regulations for an international monetary system. It established a fixed exchange rate linked to the U.S. dollar, with other countries pegging their currency to the dollar. It created the International Monetary Fund (IMF), as well as the International Bank for Reconstruction and Development (IBRD), a precursor for the modern World Bank. By the 1970s the fixed exchange rate collapsed, as the U.S. was no longer willing to exchange the dollar for gold. The agreement was so named because it was signed in Bretton Woods, New Hampshire.
Related information about Bretton Woods agreement:
- Bretton Woods system - Wikipedia, the free encyclopedia
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A landmark system for monetary and exchange rate management established in 1944. The Bretton Woods Agreement was developed at the United Nations ...
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An agreement signed by the original United Nations members in 1944 that established the International Monetary Fund (IMF) and the post-World War II ...
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By the early 1960s, the U.S. dollar's fixed value against gold, under the Bretton Woods system of fixed exchange rates, was seen as overvalued. A sizable ...
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Bretton Woods System. prepared for the Routledge Encyclopedia of International Political Economy. The Bretton Woods system is commonly understood to refer ...