At one time, exchange rates were more or less ﬁxed at speciﬁed levels by the _____________.

Question

Quizplus · Accepted Answer

The Bretton Woods Accord was an international agreement reached after World War II to establish a system of fixed exchange rates. It established the U.S. dollar as the world's reserve currency and pegged it to gold at a fixed rate, while other currencies were pegged to the dollar. This system remained in place until it was abandoned in 1971. The other options listed, such as the Ontario Securities Commission (OSC) and Securities and Exchange Commission (SEC), are regulatory bodies that do not have the authority to set exchange rates, while the Foreign Exchange Act and Global Exchange Agreement are not historical agreements known to have set exchange rates.

At One Time, Exchange Rates Were More or Less ﬁXed