What was the Bretton Woods Agreement?
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The Bretton Woods Agreement was a 1944 international accord that established the post-war monetary order. It created the International Monetary Fund (IMF) and the World Bank, and set up a fixed exchange rate regime tied to the U.S. dollar.
Think about the deal that rebuilt the global money system after World War II. It tied currencies to the U.S. dollar and created the IMF and the World Bank.