Under the Bretton Woods system, U.S.dollars were redeemable for ________ only if the dollars were presented by a foreign central bank.

Question

Quizplus · Accepted Answer

Under the Bretton Woods system, U.S. dollars were redeemable for gold, which means that foreign central banks could exchange their dollars for gold at a fixed rate. This eventually led to a drain on U.S. gold reserves and the collapse of the system in 1971.

Under the Bretton Woods System, U