Smithsonian Institute

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August 31, 2024 3 min read Definitions

Smithsonian Agreement: An Attempt to Restore Fixed Exchange Rates

Economics Finance Bretton Woods Exchange Rates International Economics 1971 Agreement Smithsonian Institute

The Smithsonian Agreement was an international accord reached in 1971 aimed at restoring a Bretton Woods-style system of pegged exchange rates. The agreement, named after the Smithsonian Institute in Washington, DC, where it was signed, sought to stabilize international currencies but lasted only a few months.

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