Smithsonian Agreement

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Smithsonian Agreement

1971

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realignment of currencies

In international payment and exchange: The Smithsonian Agreement and after
On Dec. 17 and 18, 1971, representatives of the Group of Ten met at the Smithsonian Institution in Washington, D.C., and agreed on a realignment of currencies and a new set of pegged exchange rates. The dollar was devalued in terms…
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