The legally established value of a country's monetary unit in terms of another under the Bretton Woods system was called the
A) exchange rate.
B) dirty float.
C) special draw.
D) par value.

Question

Quizplus · Accepted Answer

The legally established value of a country's currency in terms of another under the Bretton Woods system was called the par value. This was a fixed exchange rate system where the value of currencies was kept within a narrow band of fluctuations around their par values.

The Legally Established Value of a Country's Monetary Unit in Terms