Unformatted text preview: adopted par value by buying or selling foreign exchanges as necessary. C. the U.S. dollar was the only currency that was fully convertible to gold. D. all of the above Topic: Bretton Woods System: 1945-1972 Topic: Evolution of the International Monetary System 39. Under the Bretton Woods system each country established a par value for its currency in relation to the dollar. And the U.S. dollar was pegged to gold at A. $1 per ounce. B. $35 per ounce. C. $350 per ounce. D. $900 per ounce. Topic: Bretton Woods System: 1945-1972 Topic: Evolution of the International Monetary System...
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- Spring '11
- Foreign exchange market, United States dollar, Bretton Woods