Of the following,which is NOT true about the Bretton Woods System?
A) It was established in 1965.
B) It established a global currency system based on a gold standard with the U.S.dollar pegged at a fixed rate of exchange to gold in an effort to control inflation.
C) The IMF was established under the Bretton Woods Agreement.
D) Eventually,major nations met to consider abandoning the Bretton Woods Agreement.
E) Under the Smithsonian Agreement,the U.S.devalued the dollar against other countries' currencies.
Correct Answer:
Verified
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