The correct answer is Option (4) → (B), (D), (C), (A)
-
(B) Gold standard system of exchange – This system was established in the 19th century and continued until the early 20th century, where currencies were directly linked to gold.
-
(D) Bretton Woods Conference – Held in 1944, this led to the creation of the IMF and World Bank, and a new exchange rate system based on the US dollar, which was convertible to gold.
-
(C) Gold was replaced by creating the Special Drawing Rights (SDR) – SDRs were introduced by the IMF in 1969 as a supplementary international reserve asset to replace gold.
-
(A) Smithsonian Agreement – Signed in 1971, this agreement effectively ended the Bretton Woods system and allowed currencies to float more freely.
Note: this question is from Old pre Rationalised NCERT. |
