Under the Bretton Woods exchange rate system, each country's exchange rate was pegged to

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Under the Bretton Woods exchange rate system, the exchange rate of each country's currency was pegged to the U.S. dollar. The U.S. dollar was the predominant international currency at the time, and the exchange rates of other currencies were maintained within a fixed margin around the U.S. dollar exchange rate. This is why the system is also known as the "dollar standard."

Under the Bretton Woods Exchange Rate System, Each Country's Exchange