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The delegates deliberated upon and signed the Bretton Woods Agreements during the first three weeks of July 1944.The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold and the ability of the IMF to bridge temporary imbalances of payments..Setting up a system of rules, institutions, and procedures to regulate the international monetary system, the planners at Bretton Woods established the International Bank for Reconstruction and Development (IBRD) (now one of five institutions in the World Bank Group) and the International Monetary Fund (IMF).Preparing to rebuild the international economic system as World War II was still raging, 730 delegates from all 44 Allied nations gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire, United States, for the United Nations Monetary and Financial Conference. This created the unique situation whereby the United States Dollar became the "reserve currency" for the Nations who signed. The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states. In the face of increasing strain, the system collapsed in 1971, following the United States'Some more useful information on currency exchange location online forex trading forex
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