At the present time in the international monetary system,

Question

Quizplus · Accepted Answer

Option D is correct as currency board is a monetary system that has similarities with the old gold standard in terms of fixed exchange rate, strict control over money issuance and a commitment to convert domestic currency into a foreign reserve currency, usually the US dollar or euro. Options A, B, and C are incorrect as gold is not the largest component of international reserves held by central banks, many countries have flexible exchange rates, and some countries use other currencies as part or all of their money (e.g. some countries use the US dollar or euro as their official currency).

At the Present Time in the International Monetary System