Question

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 1

Answer:

B. Bretton Woods Agreement

The Bretton Woods Agreement established a system through which a fixed currency exchange rate could be created using gold as the universal standard. The agreement involved representatives from 44 nations and brought about the creation of the International Monetary Fund (IMF) and the World Bank.