An agreement signed in Bretton Woods, New Hampshire, USA, in 1944 that created the INTERNATIONAL MONETARY FUND. It set rules for exchange rate behaviour and created a pool of COMMON CURRENCIES, thereby making the IMF the world’s ‘lender of...

The basis of value for INTERNATIONAL MONETARY FUND currencies, the US dollar, under the BRETTON WOODS system (1968–73), a successor to the GOLD STANDARD. Unlike linking currencies to gold, this standard did not require dollar holdings as a...

The Bretton Woods system of international monetary management established the rules for commercial and financial relations among the world's major industrial states. The Bretton Woods system was the first example of a fully negotiated monetary order...