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Glossary > S > "Smithsonian agreement" Definition

Smithsonian agreement

A revision to the Bretton Woods international monetary system which was signed at the Smithsonian Institution in Washington, D.C., U.S.A., in December 1971. Included were a new set of par values, widened bands to +/- 2.25% of par, and an increase in the official value of gold to US$38.00 per ounce.

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Smithsonian agreement - A revision to the Bretton Woods international monetary system which was signed at the Smithsonian Institution in Washington, D.C., U.S.A., in December 1971. Included were a new set of par values, widened bands to +/- 2.25% of par, and an increase in the official value of gold to US$38.00 per ounce.

Smithsonian agreement : a revision to the bretton woods international monetary system which was signed at the smithsonian institution in washington, d.c., u.s.a., in december 1971. included were a new set of par values, widened bands to +/- 2.25% of par, and an increase in the official value of gold to us$38.00 per ounce.