At the end of World War II, the Bretton Woods Agreement was signed in July 1944 by leading economic powers, establishing a new international monetary system. This agreement created institutions like the International Monetary Fund (IMF) and the World Bank, aimed at promoting global economic stability and cooperation. It also established fixed exchange rates linked to the U.S. dollar, which was convertible to gold, laying the groundwork for post-war economic recovery and international trade.
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