Under the Bretton Woods exchange rate system, ________ could sell their dollars to the U.S.government in exchange for gold.

Question

Quizplus · Accepted Answer

The Bretton Woods exchange rate system allowed foreign central banks to sell their dollars to the U.S. government in exchange for gold at a fixed rate of $35 per ounce. This was in order to maintain the fixed exchange rate between the U.S. dollar and other currencies. Other entities such as Canadian citizens, foreign citizens, and American corporations were not able to sell their dollars to the U.S. government for gold under this system.

Under the Bretton Woods Exchange Rate System, ________ Could Sell