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An agreement signed in 1944 to establish fixed currency and foreign exchange rates, aimed at creating consensus and standards for international monetary transactions and financial systems, with gold pegged at USD 35 per ounce. This agreement has now dissolved.
The Bretton Woods Agreement of 1944 was a landmark international conference where 44 countries agreed to establish fixed exchange rates to stabilize the global economy post-World War II. It pegged currencies to the US Dollar, which was in turn pegged to gold at $35 per ounce, laying the groundwork for modern financial systems, though this system has since dissolved, giving way to floating exchange rates.
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