Although monetary discipline was a central objective,the Bretton Woods agreement recognized that a rigid policy of fixed exchange rates would be too inflexible.

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The Bretton Woods agreement recognized that a rigid policy of fixed exchange rates would be too inflexible, even though monetary discipline was a central objective. Instead, the agreement established a system of adjustable pegs, in which currency values were fixed but could be adjusted in response to changing economic conditions.

Although Monetary Discipline Was a Central Objective,the Bretton Woods Agreement