Including the following points: 1, linked to gold.
Each country confirmed the official gold price of 35 US dollars an ounce set by the United States in January 1944, and the gold content of each US dollar was 0.888671 grams of gold.
Governments or central banks can exchange dollars for gold at official rates.
2. Other countries are pegged to the US dollar. The governments of other countries stipulate the gold content of their currencies and determine the exchange rate with the US dollar through the proportion of gold content.
3, the implementation of adjustable.
Under the Fund Agreement, the exchange rates of national currencies against the United States dollar are limited to fluctuations of 1 per cent either side of the statutory rate.
If market exchange rates fluctuate by more than 1 per cent of the legal rate, governments are obliged to intervene in foreign exchange markets to maintain exchange rate stability.
4. Principles of national and international payment and settlement.
The Agreement lays down the principle of free exchange of national currencies: Any Member State shall exchange its national currency for the current account transactions of another Member State in exchange for its own currency for the payment of its current account.
5. Determine international reserve assets.
The provisions of the Agreement on currency parity put the United States dollar on a par with gold and made it the most important international player among countries.
6. Balance of payments adjustment.
Twenty-five per cent of the IMF Member share is paid in gold or currencies convertible into gold, with the remainder in national currencies.
