In 1971, due to pressures on the US dollar and rising inflation, the Smithsonian Agreement was implemented. It revalued the US dollar by 7.9% against gold and widened the bands in which currencies could fluctuate to +/- 2.25%.
In 1971, due to pressures on the US dollar and rising inflation, the Smithsonian Agreement was implemented. It revalued the US dollar by 7.9% against gold and widened the bands in which currencies could fluctuate to +/- 2.25%.