Help
 

xreferences
exchange rate
Dictionary of Business: Oxford University Press
International Monetary Fund (IMF)
Dictionary of Business: Oxford University Press
International Monetary Fund (IMF)
Oxford Paperback Encyclopedia
exchange rate
Dictionary of Accounting, Oxford University Press
International Monetary Fund (IMF)
Dictionary of Accounting, Oxford University Press
view all xreferences (12)

adjacent entries
small business
SME
Smith, Adam (1723 - 1790)
Smithsonian Agreement
Smithsonian parities
social accounting
social benefits

Smithsonian Agreement

An agreement concluded in December 1971 between the `Group of Ten' of the International Monetary Fund at the Smithsonian Institute, Washington. Under the agreement, the major currencies were restored to fixed parities but with a wider margin, + or -2.25 per cent of permitted fluctuation around their par values. The dollar was effectively devalued by about 8 per cent and the dollar price of gold increased to $38 per oz. Sterling was set at $2.6057 (see exchange rate).


The Penguin Dictionary of Economics, © Graham Bannock, R. E. Baxter and Evan Davis 1998


Home | About | Feedback | Help
Title List | Testimonials | Add xrefer to your browser | Add xrefer to your site
© 2002 xrefer | Privacy