Over the last two centuries of exchange rate "regimes," the history can be divided into three phases. In chronological order they are:

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The gold standard was the dominant exchange rate regime from the mid-19th century until the outbreak of World War I, followed by the Bretton Woods standard after World War II, and finally the era of floating exchange rates that emerged in the 1970s after the collapse of the Bretton Woods system.

Over the Last Two Centuries of Exchange Rate "Regimes," the History