Bretton Woods

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Bretton Woods System of Monetary Management
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The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western Europe, Australia, and Japan after the 1944 Bretton-Woods Agreement.

Bretton Woods Outcomes
  • Tied the currencies of almost all countries to the US Dollar
  • Currencies were tied at a fixed exchange rate
  • Tied the value of the US dollar to  $35 per ounce of gold
  • Resulted in the US Dollar becoming the world's primary reserve currency
  • Forced other countries to use and store US dollars for international trade or exchange with the US government for gold