Exchange Rate Systems Essay by The Research Group

Exchange Rate Systems
History & evolution of Bretton Woods fixed-rate & floating exchange rate systems since 1944. Looing at its purposes, effectiveness, impact on currencies & trade and inflation.
# 13789 | 1,575 words | 11 sources | 1999 | US
Published on Feb 20, 2003 in Economics (International)


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From the Paper:

"EVOLUTION OF THE BRETTON WOODS EXCHANGE RATE SYSTEM & THE FLOATING EXCHANGE RATE SYSTEM
This research examines the evolution of the Bretton Woods exchange rate system (a fixed-rate system) and the floating exchange rate system. Advantages and disadvantages of each system type are discussed, along with a brief review of approaches to exchange risk hedging under the floating rate system, and an assessment of the possibility of returning to a fixed-rate system.

The onset of the economic depression in 1930 caused most major countries to abandon the gold standard by 1933. In 1934, however, the United States adopted the gold exchange standard, and set the gold/dollar exchange rate at one ounce/$35.

Under the gold standard prevailing prior to the beginning of.."

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