Smithsonian Agreement

Smithsonian Agreement
In 1971, President Nixon unilaterally devalued the dollar following the Vietnam War and brought about revisions to the Bretton Woods international monetary system in an agreement signed at the Smithsonian Institution in Washington. New revisions included a hike in the official gold price, made the bands wider at +/- 2.25% of par, and instituted new par values.

Random Finance Terms for the Letter S

  • Slippage
  • Small-Firm Effect
  • Small Issues Exemption
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  • Smithsonian Agreement
  • Social Security Act
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