Answer to Question #268674 in English for Mae

Question

It is about time to change the USD our universal currency based on the bretton wood system

Answer 1

In July 1944, around 730 delegates from 44 nations convened in Bretton Woods with the primary aims of establishing an efficient foreign exchange system, avoiding competitive devaluations of currencies, and fostering worldwide economic growth. The Bretton Woods Agreement and System were critical to achieving these objectives. The Bretton Woods Agreement also established two crucial organizations: the International Monetary Fund (IMF) and the World Bank. While the Bretton Woods System was dismantled in the 1970s, the IMF and World Bank have remained major foundations of international currency trade.