but the road to that system has been tumultuous, shaped by a series of mistrials In 1944, a mechanism for fixed exchange rates was established with the appointment of the US dollar as the ...

But because countries no longer are obligated to peg their exchange rates in a system overseen by the IMF, they need a sound basis for selecting the regime best suited to their needs—be it fixed, ...

In the Bretton Woods system: exchange rates were fixed but adjustable. This system aimed both to avoid the undue volatility thought to characterize floating exchange rates and to prevent competitive ...