The Bretton Woods system was based on ____ exchange rates.

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The Bretton Woods system was based on fixed exchange rates.
Maintaining economic stability and full employment in the industrial world was the primary goal of the post-World War II international economic system. The United Nations Monetary and Financial Conference, which took place in July 1944 at Bretton Woods, USA, approved its basic structure. Exchange rates that are fixed and are protected against change by government intervention were the foundation of the Bretton Woods system. In this arrangement, national currencies, like the rupee in India, were fixed at a fixed exchange rate to the dollar at a set rate of $35 per ounce of gold. The dollar was anchored to gold.

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