Question

The evolution of international monetary system

Answer 1

The international monetary system alludes to the framework and decides that oversee the utilization and trade of cash all over the planet and between nations.

The international monetary system comprises of

(i) swapping scale courses of action;

(ii) capital streams; and

(iii) an assortment of establishments, rules, and shows that oversee its activity.

Homegrown money related approach structures dovetail, and are fundamental for, the worldwide framework. A well-working framework advances financial development and success through the effective designation of assets, expanded specialization underway in view of similar benefit, and the expansion of hazard.

There have been four stages/stages in the development of the international monetary system:

Gold Standard (1875-1914)

Inter-war period (1915-1944)

Bretton Woods system (1945-1972)

Present International Monetary system (1972-present)

Answer 2

The international monetary system has gone through four stages in its evolution: (1) the gold standard (1880–1914); (2) the gold-exchange standard (1925–1933); (3) the Bretton Woods system (1944–1971); and (4) the Jamaica system, also known as the floating exchange rate system.