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gold-exchange standard |
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gold-exchange standard
n (Economics, Accounting & Finance / Banking & Finance) a monetary system by which one country's currency, which is not itself based on the gold standard, is kept at a par with another currency that is based on the gold standard Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | Under the Bretton Woods agreement, the dollar would remain on an international gold-exchange standard (meaning that dollars could be redeemed for gold, but only by international traders), and other currencies would be convertible into the dollar. These authors also seem to understate the extent to which the Fed and other central banks' deliberate management of the gold-exchange standard prevented monetary adjustment in the period 1929-33 from resembling the pattern of equilibrium typical of the classical gold standard. Under the gold-exchange standard that governed international finance prior to August 1971, a shift out of dollars would have led to a transfer of U. |
gold-exchange standard |
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