The _____, which devalued the U.S.dollar to $38 per ounce of gold, increased the value of other countries' currencies to the dollar, and increased the band within which a currency was allowed to float from 1 percent to 2.25 percent.
A)Jamaica Agreement
B)Basel Convention
C)Bonn Agreement
D)Smithsonian Agreement
E)Barcelona Convention

Question

Quizplus · Accepted Answer

The correct answer is the Smithsonian Agreement. This agreement was reached in 1971 among the Group of Ten countries to adjust the fixed exchange rates established at the Bretton Woods Conference in 1944, including devaluing the U.S. dollar and allowing currencies to float within a wider band.

The _____, Which Devalued the U