Global Markets Quiz 3

The 'Gold Exchange' standard was established in

when leaders of allied nations met at a conference in

, New Hampshire. Under the system, the US dollar was fixed at $US

per ounce of gold.

On 15 August

, the Nixon Government suspended the USD link to gold.

The system was replaced in with the introduction of the

.

In 1978, the

(EMS) was established, defining a new currency unit: the

(ECU) and the formation of the

(ERM) in 1979.

It was the signing of the

on 7 February 1992 which ultimately led to the creation of the

(EMU) and the creation of the

.

In 1967 the AUD was pegged to the

. A new regime was adopted in September 1974, which involved maintaining a constant value of the

(TWI). From November 1976 until December 1983, it was set in terms of a '

' system.

(CLS) allows the simultaneous settlement of different currencies amounts at a single location.