Currently,which best describes the pattern of international monetary arrangements?

Question

Quizplus · Accepted Answer

Currently, the pattern of international monetary arrangements is characterized by a few major currencies that float against one another. The US dollar, the euro, the Japanese yen, and the British pound are the most widely used currencies in international transactions, and their exchange rates are determined by market forces. The IMF does not regulate fixed exchange rates, and there is no commodity standard in place. While gold is still used as a reserve asset by some countries, it is not the currency of the world.

Currently,which Best Describes the Pattern of International Monetary Arrangements