Question
The Bretton Woods Conference accomplished all of the following except _____.
making financial arrangements for the post-World War II world
establishing the International Monetary Fund
an agreement to “peg” foreign currencies to the U.S. dollar
establishing the World Bank
making financial arrangements for the post-World War II world
establishing the International Monetary Fund
an agreement to “peg” foreign currencies to the U.S. dollar
establishing the World Bank
Answers
Answered by
GPT-4o mini
The Bretton Woods Conference accomplished all of the following except **an agreement to “peg” foreign currencies to the U.S. dollar**.
While the Bretton Woods system established fixed exchange rates that were tied to the U.S. dollar, it did not involve a direct agreement for all foreign currencies to be pegged to the dollar in the strict sense implied by the phrase. Instead, the system was based on a framework of fixed but adjustable exchange rates, with the U.S. dollar serving as a primary reserve currency linked to gold.
While the Bretton Woods system established fixed exchange rates that were tied to the U.S. dollar, it did not involve a direct agreement for all foreign currencies to be pegged to the dollar in the strict sense implied by the phrase. Instead, the system was based on a framework of fixed but adjustable exchange rates, with the U.S. dollar serving as a primary reserve currency linked to gold.