Gold Standard Foreign Exchange Market

Essay specific features

 

Issue:

Business

 

Written by:

Therese G

 

Date added:

August 28, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1233

 

Was viewed:

7192 times

 

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Essay content:

As stated in chapter 5 of International business, 10th edition, “the gold exchange standard, established at Bretton Woods after World War II, worked until the 1970’s when it collapsed due to inflation and the surplus of U.S. dollars held outside the United States.” They used gold because its rarity, durability, and the general ease of identification through its unique color, weight, ductility and acoustic properties...
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Gold is an internationally recognized commodity, which is why there are still holdings of gold. Gold has held its high standard and people use it for jewelry, coinage and other purposes. When Bretton-Woods was abandoned in the 1970's, market forces of supply and demand controlled exchange rates. The main characteristic of this period was an extreme precariousness, which led to market deregulation, open trade and a rise in speculators...
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