The Bretton Woods System

The Bretton Woods System was a landmark international monetary agreement established in 1944, designed to stabilize global currencies and foster economic cooperation after World War II. It pegged the U.S. dollar to gold and other currencies to the dollar, creating a system of fixed exchange rates. This system also led to the creation of the International Monetary Fund and the World Bank, shaping the post-war global economic order until its collapse in the early 1970s.