Question 881 Nixon Shock, Bretton Woods, foreign exchange rate, no explanation
In the ‘Nixon Shock’ on August 15, 1971, the United States government:
(a) Floated the USD.
(b) Cancelled the international convertibility of the USD into gold.
(c) Cancelled the international convertibility of the USD into other currencies such as the GBP.
(d) Revalued the USD higher (an appreciation of the USD) against gold and other foreign currencies.
(e) Banned imports into the US.
Copyright © 2014 Keith Woodward