The Bretton Woods Monetary System can best be described as which of the following?

Question

Quizplus · Accepted Answer

The Bretton Woods Monetary System was an adjustable peg system, where the exchange rates were fixed but could be adjusted within a certain range by the central banks of member countries. The system was not a gold standard, as the value of the US dollar was not fixed to gold, but rather the US dollar was fixed to gold and other currencies were fixed to the US dollar. It was also not a flexible exchange rate system, as the exchange rates were not determined by market forces. While the system was established by the Bretton Woods Conference, it was not a central bank system per se, but rather an agreement among countries to manage their exchange rates.

The Bretton Woods Monetary System Can Best Be Described as Which