Bretton Woods agreement - Financial definition
Concise definition of the term Bretton Woods agreement
An agreement made in Bretton Woods (New Hampshire, United States of America) in 1944 which established a post-war fixed currency rate between countries and subsequently the International Monetary Fund (IMF) and World Bank.
Comprehensive definition of the term Bretton Woods agreement
The fixed exchange rate functioned until the early 1970s when the US dollar ceased to be convertible into gold and was replaced by a floating exchange rate.