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Home / Beginners / Forex Glossary / Term "bretton-woods-agreement"
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Bretton Woods Agreement

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Bretton Woods Agreement  it is agreement that established fixed foreign exchange rates for major currencies, provided for central bank intervention in the currency markets, and pegged the price of gold at US $35 per ounce. The agreement lasted until 1971, when President Nixon overturned the Bretton Woods agreement and established a floating exchange rates for the major currencies.