In 1944,the dollar remained convertible into gold at _________ per ounce.
A) $22
B) $29
C) $35
D) $37
E) $40

Question

Quizplus · Accepted Answer

The Bretton Woods conference in 1944 established a system of fixed exchange rates with the US dollar as the world's reserve currency. The price of gold was set at $35 per ounce, and other currencies were pegged to the dollar at a fixed rate. This system remained in place until 1971 when President Nixon ended the convertibility of the dollar into gold.

In 1944,the Dollar Remained Convertible into Gold at _________ Per