Under the Bretton Woods System each participating country had to:

Question

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Under the Bretton Woods System, each participating country had to stand ready to exchange its own currency for U.S. dollars at a fixed exchange rate. The U.S. dollar was pegged to gold, and other countries had to maintain their exchange rates with the dollar. This helped create stability in international trade and finance. Option A is partially correct, as countries could exchange their currency for gold, but it was ultimately tied to the U.S. dollar. Option B is incorrect, as countries only needed to hold adequate reserves of U.S. dollars. Option D is also incorrect, as the Bretton Woods System did not involve capital controls but rather aimed to promote free trade and stabilization of exchange rates.

Under the Bretton Woods System Each Participating Country Had To