Articles of category "Bretton Woods system"

The United Nations Monetary and Financial Conference, also known as Breton Woods Conference, was a meeting of 730 delegates from 45 Allied Nations, held in Bretton Woods, New Hampshire from July 1 - 22, 1944. Established at the Bretton Woods Conference were two international bodies for regulation of the international financial and monetary order following the end of World War II, namely the International Monetary Fund and the International Bank for Reconstruction and Development.

Designed and carried out in 1944, the Bretton Woods system established basic rules for financial and commercial relations between the major industrial states of the world. It was the first example of the fully negotiated monetary order with the aim of governing monetary relations among world's independent nations. The Bretton Wood system's chief feature was an obligation for all countries to adopt monetary policy maintaining exchange rate of its currency within a fixed value.