General Knowledge - Indian Economy - Discussion

Discussion :: Indian Economy - Indian Economy (Q.No.21)

21. 

The currency convertibility concept in its original form originated in

[A]. Wells Agreement
[B]. Bretton Woods Agreement
[C]. Taylors Agreement
[D]. None of the above

Answer: Option B

Explanation:

No answer description available for this question.

Dhiraj Chhetri said: (Feb 16, 2011)  
Tell us something about the Bretton woods Agreement?

Mahesh said: (Jun 18, 2011)  
What is bretton woods agreement?

Surendra Sharma said: (Jul 3, 2011)  
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states.

Xyz said: (Aug 26, 2011)  
Bretton Woods established the IMF and the IBRD, which today is part of the World Bank Group. These organizations became operational in 1945 after a sufficient number of countries had ratified the agreement.The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to the U.S. dollar and the ability of the IMF to bridge temporary imbalances of payments.

Golu Singh said: (May 30, 2012)  
What is IMF and IBRD ?

Tazmeen Khan said: (May 31, 2012)  
The International Monetary Fund (IMF) is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement[1]

Tazmeen Khan said: (May 31, 2012)  
International bank for reconstruction and development (IBRD) is one of five institutions that compose the World Bank Group. The IBRD is an international organization whose original mission was to finance the reconstruction of nations devastated by World War II. Now, its mission has expanded to fight poverty by means of financing states. Its operation is maintained through payments as regulated by member states. It came into existence on December 27.

Himanshu said: (Aug 10, 2012)  
The Bretton Woods Agreement was developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944. One of the proposals of the Bretton Woods conference was that currencies should be convertible for trade and other current account transactions.

Rehan Kazi said: (Nov 1, 2012)  
Definition of 'Bretton Woods Agreement:.

A landmark system for monetary and exchange rate management established in 1944. The Bretton Woods Agreement was developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944. Even as World War II raged on, 730 delegates from the 44 Allied nations attended the conference.

Major outcomes of the Bretton Woods conference included the formation of the International Monetary Fund and the International Bank for Reconstruction and Development and, most importantly, the proposed introduction of an adjustable pegged foreign exchange rate system. Currencies were pegged to gold and the IMF was given the authority to intervene when an imbalance of payments arose.

Jyoti Sharma said: (May 3, 2013)  
What is Taylors agreement?

Dipanjan Halder said: (Nov 10, 2016)  
Thanks for all the given information.

Juri Baishya said: (Mar 13, 2017)  
Thank you for describing it.

Helen said: (Apr 9, 2019)  
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western European countries, Australia, and Japan after the 1944 Bretton Woods Agreement. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent states. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained its external exchange rates within 1 percent by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments. Also, there was a need to address the lack of cooperation among other countries and to prevent competitive devaluation of the currencies as well.

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