Answer:
(i) The international
monetary system is the system linking national currencies and monetary systems.
(ii) The Bretton
Woods system was based on fixed exchange rates. In this system, the national
currencies, for example the Indian rupee, were pegged to the dollar at a fixed
exchange rate. The dollar itself was
(iii) The Bretton
Woods system inaugurated an era of unprecedented growth of trade and incomes
for the Western industrial nations and Japan.
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