According to the _____ of 1987,the Group of Five major industrial nations agreed that exchange rates had been realigned sufficiently and pledged to support the stability of exchange rates around their current levels by intervening in the foreign exchange markets when necessary to buy and sell currency.
A) Uruguay round
B) Bretton Woods system
C) Marshall plan
D) Louvre Accord
E) Jamaica agreement

Question

Quizplus · Accepted Answer

The Louvre Accord of 1987 was a meeting of the Group of Five (G5) nations - the United States, Japan, West Germany, France, and the United Kingdom - which aimed to stabilize the international currency markets. The G5 agreed to maintain currency exchange rates around their current levels by intervening in the markets to buy or sell currencies as needed. The accord was named after the location of the meeting in the Louvre Museum in Paris.

According to the _____ of 1987,the Group of Five Major