All countries were to fix the value of their currency in terms of gold but were not required to exchange their currencies for gold, according to the 1944
A) Bretton Woods agreement.
B) Washington Consensus.
C) World Bank treaty.
D) Group of Five treaty.
E) United Nations agreement.

Question

Quizplus · Accepted Answer

The Bretton Woods agreement established a system where currencies were pegged to the US dollar, which was convertible to gold, but countries were not required to exchange their currencies for gold directly.

All Countries Were to Fix the Value of Their Currency