The Oil crisis of 1979 is one reason for the volatility of exchange rates since March of 1973.

Question

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The Oil crisis of 1979 caused a significant increase in oil prices and disrupted the global economy, leading to a period of exchange rate volatility. This crisis was one of several factors contributing to exchange rate instability during the period since March of 1973, when major industrial countries transitioned away from the Bretton Woods system of fixed exchange rates.

The Oil Crisis of 1979 Is One Reason for the Volatility