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09/08/1971 Switzerland leaves the Bretton Woods currency system

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The Bretton Woods Monetary System (1944 - 1971) Explained in One Minute

Other nations began to demand redemption of their dollars for gold. Switzerland redeemed $50 million in July. France acquired $191 million in gold. As the dollar dropped in value against European currencies, Switzerland left the Bretton Woods system.
    • Essentials 

    • Background 

    • Event 

    • Later ramifications