Which year the Bretton Wood agreement failed

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Which year the Bretton Wood agreement failed?

A. 1983

B. 1971

C. 1963

D. 1989

Answer: Option B

Solution (By Examveda Team)

The Bretton Wood agreement failed in 1971, when President Richard Nixon severed the link between the dollar and gold — a decision made to prevent a run on Fort Knox, which contained only a third of the gold bullion necessary to cover the amount of dollars in foreign hands.

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