According to the Bretton Woods agreement of 1944,which was the only currency that remained convertible into gold?
A) U.S. dollar
B) British pound
C) Japanese yen
D) German deutsche mark
E) Chinese yuan

Question

Quizplus · Accepted Answer

According to the Bretton Woods agreement of 1944, the U.S. dollar was the only currency that remained convertible into gold. The value of other currencies was fixed relative to the U.S. dollar, which in turn was fixed to the value of gold at a rate of $35 per ounce.

According to the Bretton Woods Agreement of 1944,which Was the Only