Question

How was the new International Monetary System Created

Answer 1

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With the growth of American power, the US dollar became the basis for the international monetary system, formalised in the Bretton Woods agreement that established the post–World War II monetaryorder, with fixed exchange rates of other currencies to the dollar, and convertibility of the dollar into gold.

Answer 2

Explanation:

With the growth of American power, the US dollar became the basis for the international monetary system, formalised in the Bretton Woods agreement that established the post–World War II monetary order, with fixed exchange rates of other currencies to the dollar, and convertibility of the dollar into gold.