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Q.

Bretton Woods Conference took place in the year ____.

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Detailed Solution

Bretton Woods Conference took place in the year 1944. The Bretton Woods System established monetary links between the United States, Canada, Australia, and Japan following the 1944 Bretton Woods Agreement. The Bretton Woods System was the first to control the value of money among countries. During a 1944 conference of the World War II allies, the Bretton Woods Agreement was forged. The event was held in Bretton Woods, New Hampshire, and a new global monetary system was created due to the agreement. As a result, the US dollar supplanted the gold standard as the world's currency and IMF and the World Bank were established.

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