Which of the following statements is false?
A) The Bretton Woods Accord established a fixed exchange rate system among the major industrialized countries in 1944.
B) Over half of U.S. currency and over 70 percent of $100 bills are held abroad.
C) The price of oil from the Middle East is quoted, bought, and sold in euros. This was a blow to the U.S. dollar which used to be the currency in which oil was quoted, bought, and sold.
D) The euro is now used as international reserves.
Correct Answer:
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