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Bretton woods system?? |
| Answer» \tThe Bretton Woods system was the first system used to control the value of money between different countries. It meant that each country had to have a monetary policy that kept the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold.\tThe International Monetary Fund (IMF) was created to fight against temporary imbalances of payments. The Bretton Woods system was the first monetary order that organized monetary relations among independent nation-states.\tIt set out the rules for commercial and financial relations among the world\'s major industrial states. | |