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Q84 (NDA-II/2025) International Relations & Global Affairs › International Organisations & Groupings › International financial institutions Answer Verified

With which of the following was the Bretton Woods System NOT associated

Result
Your answer: —  Â·  Correct: D
Explanation

The Bretton Woods System, established at the 1944 United Nations Monetary and Financial Conference, was specifically designed to create a stable international monetary order after the Second World War [3]. It resulted in the creation of the 'Bretton Woods twins': the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) [2]. The IBRD was primarily tasked with financing the economic recovery and reconstruction of war-ravaged nations [5]. Crucially, the system was based on a fixed exchange rate regime where currencies were pegged to the U.S. dollar, which was in turn convertible to gold [8]. It did NOT involve a floating exchange rate system; in fact, the move toward floating rates only occurred after the collapse of the Bretton Woods system in the early 1970s [8].

Sources

  1. [1] India and the Contemporary World – II. History-Class X . NCERT(Revised ed 2025) > Chapter 3: The Making of a Global World > 4.1 Post-war Settlement and the Bretton Woods Institutions > p. 75
  2. [3] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > CHAPTER SUMMARY > p. 552
  3. [2] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > BRETTON WOODS INSTITUTIONS > p. 512
  4. [5] https://history.state.gov/milestones/1937-1945/bretton-woods
  5. [8] https://www.investopedia.com/terms/b/brettonwoodsagreement.asp
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