Explain the features of bretton woods system
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The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold; and the ability of the IMF to bridge temporary imbalances of payments.
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The Bretton Woods system lasted between 1945 -1972. Its main objectives were to design a post-war monetary system that facilitates greater stability of the exchange rateswithout using the gold standard and to promote international trade and development.
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