Gold exchange standard

Gold exchange standard

A monetary system that sought to restore features of the Gold Standard in the 1920s and again in the Bretton Woods System, while economising on gold. Instead of money being backed directly by gold, central banks issued liabilities against foreign currency assets (mostly U. S. Dollars under Bretton Woods) that were in turn backed by gold.

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Part of Speech: noun
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Industry/Domain: Economy
Category: International economics
Company: University of Michigan
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