Under the Bretton Woods system,U.S.dollars were redeemable for ________ only if the dollars were presented by a foreign central bank.

Question

Quizplus · Accepted Answer

Under Bretton Woods system, US dollars were redeemable for gold only if foreign central banks presented the dollars. This means that gold was the backing for the US dollar and the US government promised to exchange the dollar for gold at a fixed rate.

Under the Bretton Woods System,U