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What is the Bretton Woods system?

The Bretton Woods system is a monetary system. It was created in an attempt to stabilize international money exchange rates to ensure economic growth.

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The Bretton Woods system came in to place in 1944 at the United Nations Monetary and Financial Conference. A fact you might be interested to know is that it was named after the town where this conference was held: Bretton Woods, New Hampshire. In July 1944, representatives of forty-four countries met here in order to discuss how to ensure worldwide stability of international currencies.

The outcome of these discussions was the Bretton Woods system, which was written down as part of the the Bretton...

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