What is bretton woods agreement simple explanation?
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opted for a floating exchange rate. Despite the demise of the System, both World Bank and IMF continue to play important (albeit altered) roles in today's international finance. Bretton Woods is the name of the township in the US state of New Hampshire where the negotiations were conducted.
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Explanation:
1) in July 1944 a confrence in United Nation monetary and financial conference at Bretton woods in new Hampshire ,USA .
2) The Bretton woods conference established International Monetary Fund Deal : External surplus and deflicits of its members.
3) The international bank for reconstruction was set up also known as World bank deal : to finance post war reconstruction .
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