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gptkbp:instanceOf
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international monetary agreement
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gptkbp:agreedBy
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gptkb:Belgium
gptkb:Canada
gptkb:France
gptkb:IMF
gptkb:Italy
gptkb:Japan
gptkb:Netherlands
gptkb:Sweden
gptkb:Switzerland
gptkb:United_Kingdom
gptkb:United_States
gptkb:West_Germany
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gptkbp:effect
|
exchange rates became more flexible
gold convertibility of US dollar suspended
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gptkbp:followedBy
|
move to floating exchange rates in 1973
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https://www.w3.org/2000/01/rdf-schema#label
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Smithsonian Agreement
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gptkbp:locationSigned
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gptkb:Washington,_D.C.
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gptkbp:mainProvision
|
US dollar devalued by 8.57%
gold price raised to $38 per ounce
other currencies revalued upward
temporary solution to currency instability
exchange rates allowed to fluctuate within 2.25% bands
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gptkbp:participants
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gptkb:Group_of_Ten_(G10)
gptkb:International_Monetary_Fund_(IMF)
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gptkbp:precededBy
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collapse of Bretton Woods fixed exchange rates
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gptkbp:purpose
|
restructure international monetary system
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gptkbp:relatedTo
|
gptkb:Nixon_Shock
Gold standard
International monetary system
|
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gptkbp:replacedBy
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gptkb:Bretton_Woods_system
|
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gptkbp:resultedIn
|
devaluation of US dollar
wider currency trading bands
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|
gptkbp:signedBy
|
December 1971
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gptkbp:bfsParent
|
gptkb:Bretton_Woods_system
gptkb:Nixon_Shock
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gptkbp:bfsLayer
|
6
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