Question

what is meant by the Bretton woods Agreement



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Answer 1

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The Bretton Woods System is a set of unified rules and policies that provided the framework necessary to create fixed international currency exchange rates. Essentially, the agreement called for the newly created IMF to determine the fixed rate of exchange for currencies around the world.

Answer 2

Answer -

The 'Bretton Woods' Agreement took place in July 1944 at Bretton Woods in New Hampshire, USA. to preserve global economic stability and full employment in the industrial world, 'International Monetary Fund (IMF)' and the World Bank were established. They mainly dealt with the deb.ts of member nations and external surplus, and also financed the post-war reconstructions.

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