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International Monetary System                                Sarjeevan Sainbhi            Sarjeevan Sainbhi               ...
Bretton Woods System: 1945–1972• Signing of Articles of Agreement of the  International Monetary Fund (IMF).• Creation of ...
Bretton Woods System: 1945–1972• Design of the Gold-Exchange System         British      German                 French    ...
Bretton Woods System: 1945–1972• Triffin Paradox• Special Drawing Rights (SDRs) – “Portfolio” of  currencies.• Smithsonian...
The Flexible Exchange Rate Regime:            1973-Present• Followed the Demise of the Bretton Woods  system.• Jamaica Agr...
Fixed vs. Flexible Exchange rate                 regime• Key feature of flexible exchange rates:  – Easier external Adjust...
Ideal International Monetary system• Liquidity• Adjustment• Confidence “IMS should be able to provide the world economy wi...
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Ims if sarjeevan

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Ims if sarjeevan

  1. 1. International Monetary System Sarjeevan Sainbhi Sarjeevan Sainbhi 1
  2. 2. Bretton Woods System: 1945–1972• Signing of Articles of Agreement of the International Monetary Fund (IMF).• Creation of sister institution i.e. The international Bank of Reconstruction and Development (IBRD), better known as the World Bank. Sarjeevan Sainbhi 2
  3. 3. Bretton Woods System: 1945–1972• Design of the Gold-Exchange System British German French Pound Mark Franc Par value U.S. Dollar Pegged at $35/oz. Gold Sarjeevan Sainbhi 3
  4. 4. Bretton Woods System: 1945–1972• Triffin Paradox• Special Drawing Rights (SDRs) – “Portfolio” of currencies.• Smithsonian Agreement : G-10. Sarjeevan Sainbhi 4
  5. 5. The Flexible Exchange Rate Regime: 1973-Present• Followed the Demise of the Bretton Woods system.• Jamaica Agreement• Plaza Accord: G-5• Louvre Accord: G-7 Sarjeevan Sainbhi 5
  6. 6. Fixed vs. Flexible Exchange rate regime• Key feature of flexible exchange rates: – Easier external Adjustments – National Policy Autonomy• Drawback: Exchange rate uncertainty may hamper international trade & investment. Sarjeevan Sainbhi 6
  7. 7. Ideal International Monetary system• Liquidity• Adjustment• Confidence “IMS should be able to provide the world economy with sufficient monetary reserves to support the growth of international trade and investment” Sarjeevan Sainbhi 7

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