According to the _____ of 1987,the governments of 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.

Question

Quizplus · Accepted Answer

The dollar continued to decline until 1987.The governments of the Group of Five began to worry that the dollar might decline too far,so the finance ministers met in Paris in February 1987 and reached a new agreement known as the Louvre Accord.They 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.

According to the _____ of 1987,the Governments of the Group