Definitions

Floating Exchange Rates

Posted By: TradersLog

The Bretton Woods system of currency exchange rate management remained in place until the early 1970′s. However, the system came undone as a result of increasing structural imbalances between nations. The U.S. dollar could no longer hold the value of the pegged rate of USD 35/ounce of gold as set out in the Bretton Woods Accord.

See also: Smithsonian Agreement

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