The Bretton Woods system, established in July 1944, was an agreement among 44 nations aimed at promoting international economic stability after World War II. It fixed exchange rates by pegging currencies to the U.S. dollar, which was convertible to gold at $35 per ounce. This framework sought to prevent competitive devaluations and foster global trade.

The conference also led to the creation of key institutions like the International Monetary Fund (IMF) and the World Bank, which support financial stability and economic development. Although the system collapsed in the early 1971 due to economic pressures, its legacy continues to influence modern international finance and economic policy

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