Under the fixed exchange rate regime established at Bretton woods, the U.S. dollar served as the reference point for all other currencies. A fixed exchange rate is a system used by a government or central bank that links the value of the nation's official currency to the currency of another nation or the price of gold.
A fixed exchange rate system's goal is to maintain a currency's value within a specific range. Fixed exchange rates are not allowed to move freely or adjust to daily shifts in supply and the demand. The currency's exchange rate is set by the government.
To learn more about fixed exchange, click here.
https://brainly.com/question/14160520
#SPJ4
