In 1944, financial ministers throughout the world met in New Hampshire to set up an adjustable pegged exchange rate system.This system became known as the
A) General Agreement on Tariffs and Trade.
B) Bretton Woods system.
C) Bank for International Settlements.
D) World Bank.

Question

Quizplus · Accepted Answer

The Bretton Woods system was established in 1944 as an adjustable pegged exchange rate system, in which currencies were fixed to the US dollar, and the US dollar was fixed to gold. The other options - A) General Agreement on Tariffs and Trade, C) Bank for International Settlements, and D) World Bank - were also established around the same time period, but they were not directly involved in establishing the Bretton Woods system.

In 1944, Financial Ministers Throughout the World Met in New