The ________ was an agreement among the G7 nations that the dollar was appropriately valued and that they would intervene in currency markets to maintain its current market value.

Question

Quizplus · Accepted Answer

The Louvre Accord was an agreement reached in 1987 among the G7 nations (Canada, France, Germany, Italy, Japan, United Kingdom, and the United States) to intervene in currency markets in order to stabilize the value of the US dollar against other major currencies. This was done because the dollar had been weakening and there was concern that its decline could lead to a destabilization of the global financial system. The agreement was named after the location of the meeting where it was signed – the Louvre Museum in Paris.

The ________ Was an Agreement Among the G7 Nations That