Under the gold standard,every central bank needed to maintain gold reserves in order to be able to redeem its currency in gold at a fixed price.

Name: Under the gold standard,every central bank needed to maintain gold reserves in order to be able to redeem its currency in gold at a fixed price.
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Under the gold standard, currencies were directly linked to gold, requiring central banks to hold gold reserves to ensure they could exchange currency for gold at a predetermined rate.

Under the Gold Standard,every Central Bank Needed to Maintain Gold