The monetary arrangements made at bretton woods resulted in fixed exchange rates assigned to member nations’ currencies.
What is fixed exchange rate?
Fixed exchange rate can be defined as the way in which currency does not varies but it is fixed.
When an exchange rate is fixed this means that the currency of a nation or country is fixed to another country currency and does not fluctuate or vary.
Therefore the monetary arrangements made at bretton woods resulted in fixed exchange rates assigned to member nations’ currencies.
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