Bretton Woods

The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. Jul'1944.

IMF, World Bank, Exchange Rate system.

Officially ended when the US dropped off the Gold Standard in 1971.

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