Bretton woods agreement
Bretton woods agreement is a series of rules that arose from the great depression. Established in July 1944, this agreement governed the free trade of international currencies. As a result of this agreement, the International Monetary Fund was also created. The Bretton woods agreement established a rate for other currencies that will peg to the US dollar. The US dollar meanwhile will be pegged to the price of gold at $35 an ounce.