What is meant by the Bretton Woods Agreement?

Asked by Last Modified  

2 Answers

+1

Follow 2
Answer

Please enter your answer

The Bretton Woods Agreement is the landmark system for monetary and exchange rate management established in 1944. It was developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944. Under the agreement, currencies were pegged to...
read more
The Bretton Woods Agreement is the landmark system for monetary and exchange rate management established in 1944. It was developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944. Under the agreement, currencies were pegged to the price of gold, and the U.S. dollar was seen as a reserve currency linked to the price of gold. The Bretton Woods Agreement remains an important part of world financial history. The creation of the International Monetary Fund (IMF) and valuation of gold and foreign exchange rates remain important to this day. The agreement also made currencies convertible for trade and other current account transactions. The strong value of the U.S. dollar eventually led to the collapse of this system after more than 20 years. read less
Comments
Dislike Bookmark

Senior Software Engineer

Under the agreement, currencies were pegged to the price of gold, and the U.S. dollar was seen as a reserve currency linked to the price of gold.
Comments
Dislike Bookmark

Related Questions

What is Balance of Trade? In which situations is it favourable and unfavourable?
Difference between imports and exports is called the balance of trade. The trade is called favourable if exports exceed imports. The trade is unfavorable if imports exceed exports.
Suresh
0 0
7
Explain giving four reasons how tourism as an industry has alright future in India.
Tourism has a bright future in India because (i) India has many historical places and beautiful landscapes that tourists like to visit. (ii) A stable political climate like in India triggers more Foreign...
Rituraj
Which state is the longest producer of manganese in India?
Odisha is the largest producer producer of manganese in india.
Shiv
0 0
9
What are Special Economic Zones? Why have they been set up?
SEZs are special economic zones where world class facilities like water, electricity, roads and transport, recreation, education are available. They have been set up to promote foreign companies to invest...
Neha
0 0
7
Why Indians were outraged by the Rowlatt Act?
Because it gave the givergover autocratic powers to repress political activities.
Dhanshri
0 0
9

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

GLOBAL WARMING - global warming has become one of the most important issue that the world is facing today.
GLOBAL WARMING Global warming refers to the increase in average temperature of the earth's surface during the last century due to human activities, primarily fossil fuel burning which...

Arshad Ali

0 0
0
1857 Revolt/Sepoy Mutiny/1st war of Indian Independence.
VD Savarkar called 1857 revolt as 1st War of Indian Independence. Reasons for 1857 Revolt: 1. Cartridges given to British Indian army were greased with cow and pig fat, which hurt Indian's religious...

Manohar A

1 0
0
What are the reasons for the amazing growth in Indian language newspapers?
Rise in the number of literate people who are migrating to cities. The needs of the readers in the small towns and villages are different from that of the cities and Indian language newspaper cater...

Sujoy Das

0 0
0
Worksheet social science The French Revolution
1. ______ country became full-fledged territorial state in Europe in the year 1789. 2. The treaty of Vienna was signed in _____ 3. _____ destroyed democracy in France. 4. ______ country is the part...

Dr. Snj Radhika

0 0
0
Behavioral Approach in Geography
By the mid-1960s use of statistical techniques in research for precision has been largely accepted by geographers. It was increasingly realized by the geographers that the models propounded and tested...

Manoj P.

0 0
0

Recommended Articles

Meet Sandhya R, a B.Sc tutor from Bangalore

Sandhya is a proactive educationalist. She conducts classes for CBSE, PUC, ICSE, I.B. and IGCSE. Having a 6-year experience in teaching, she connects with her students and provides tutoring as per their understanding. She mentors her students personally and strives them to achieve their goals with ease. Being an enthusiastic...

Read full article >

Quest Academy - Institute of the month

Quest Academy is a professional Bangalore based NEET and JEE (Main + Advanced) training institute. The academy was incorporated in 2015 to cater to the needs of students, who aim to crack competitive exams by connecting with the best brains around. The institute helps students enhance their skills and capabilities through...

Read full article >

Meet Swati, a Hindi Tutor from Bangalore

Swati is a renowned Hindi tutor with 7 years of experience in teaching. She conducts classes for various students ranging from class 6- class 12 and also BA students. Having pursued her education at Madras University where she did her Masters in Hindi, Swati knows her way around students. She believes that each student...

Read full article >

Meet Mohammad Wazid, a skilled trainer for...

Mohammad Wazid is a certified professional tutor for class 11 students. He has 6 years of teaching experience which he couples with an energetic attitude and a vision of making any subject easy for the students. Over the years he has developed skills with a capability of understanding the requirements of the students. This...

Read full article >

Find Class 10 Tuition near you
Class 10 Tuition in Delhi
Class 10 Tuition in Bangalore
Class 10 Tuition in Hyderabad
Class 10 Tuition in Kolkata
Class 10 Tuition in Chennai
Class 10 Tuition in Mumbai
Class 10 Tuition in Pune
Class 10 Tuition in Noida
Class 10 Tuition in Lucknow
Class 10 Tuition in Gurgaon
Online Tuition Class 10

Looking for Class 10 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you