Question

What was the role of Bretton Woods institution in the post-World War settlement.

Answer 1

Hint: The institution was trying to help to make the financial condition better. It was the very first system which explained and is an example of negotiated monetary order that is intended to govern monetary relations.

Complete answer:
The Bretton Woods institution and the International Monetary Fund (IMF) was setting up a meeting with all the 43 other countries as it would aim and help to rebuild the economy of the corporations. The Bretton woods agreement was the very first agreement in history in which it would be governed on monetary relations with the other states. The main feature of the Bretton Woods agreement was there should be a monetary policy which would maintain its external exchange rate with the 1 percent that the values of its currency would be related to the gold that is being deposited and the ability of International Mutual Funds (IMF) to bridge temporary imbalance of payments. As the World Bank and International Mutual Funds were created at the end of the Second World War. In this system, all the currencies from around the world were pegged to the dollar at a fixed exchange rate as this system was based on a fixed exchange rate. As it was established to power up the economy and to the realm of trades and economic relations.
The main reason why this system was established was that after the work war two to see that each and every country that there are still ways by which there would be economic coordination.

Note: It was set up in the year 1944 in New Hampshire, the USA in July. As it would help to create a stable climate for international trade by bringing harmony to its members.