In the original International Monetary Fund system,the legally established value of the monetary unit of one country in terms of another is known as

Question

Quizplus · Accepted Answer

In the original IMF system, countries agreed to establish a par value for their currency in terms of another currency, usually the US dollar. This established an exchange rate at which other countries could exchange their currency for US dollars or vice versa. This par value was legally established and served as the anchor for exchange rates.

In the Original International Monetary Fund System,the Legally Established Value