11 — 1944 — BRETTON WOODS

After World War II, countries wanted a more organized international monetary system.

In July 1944, representatives from 44 countries met at Bretton Woods, New Hampshire.

The Bretton Woods system established the framework for the International Monetary Fund and World Bank and created a system of fixed exchange relationships centered around the U.S. dollar.

For a period, currencies operated within this structured system.

But the system eventually came under pressure.