Bretton Woods System
Heyy ya instagramers, Today we go back in time to 1944 when World War 2 was nearing its end and a
new exchange system was necessity of the hour- The Bretton Woods System.
It was an international currency exchange system devised to ease trade among America, Europe and
commonwealth nations after WW2. It required fixed conversion rate of other currencies to the
American Dollar, with dollar itself convertible to gold bullion at rate of 35$ per troy ounce (0.88867
gram fine gold per dollar). It was also meant to increase cooperation between the countries and
prevent competitive devaluation and hence established International Monetary Fund (IMF) to
monitor exchange rates and lend reserve countries to nations with balance of payment deficits.
(stock photo of Bretton woods conference of June 1944, reach design team to add e cell logo and
titles)