International Monetary Reforms

In Retrospect and Prospect

image of International Monetary Reforms



The Par Value System: Its Working and Collapse

It was the agreement reached at Bretton Woods in 1944 that governed the international monetary relations since the end of World War II. Under this agreement, each member country undertook to maintain the par value of its currency in terms of gold or the U.S. dollar so that until the par value of currency was changed its exchange rates with other currencies remained fixed. Variations of upto 1% on either side were only allowed.


This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error