U.S.dollars can currently be exchanged for gold by foreign central banks, but not by Canadian, U.S., or any other foreign citizens.

Question

Quizplus · Accepted Answer

U.S. dollars cannot be directly exchanged for gold by anyone since the gold standard was abandoned in 1971. However, foreign central banks still hold a portion of their reserves in gold and can use U.S. dollars to buy or sell gold in the international market. Canadian, U.S., and other foreign citizens do not have direct access to this market for exchanging U.S. dollars for gold.

USDollars Can Currently Be Exchanged for Gold by Foreign Central