Spot Rates of Exchange

A. D. P. Edwards

Chapter 4 in The Exporter’s & Importer’s Handbook on Foreign Currencies, 1990, pp 28-30 from Palgrave Macmillan

Abstract: Abstract In the days of Empire sterling was firmly fixed to the price of gold and all the major currencies at that time were all firmly fixed to sterling. Before the Second World War, however, things had already begun to change and while sterling was having to relinquish its fixed price to gold the US dollar was emerging as the leading international trading currency. At the Bretton Woods conference in 1944 the exchange rate between sterling and the dollar was fixed at $4 = £1 and as the value of the dollar was already fixed to the price of gold sterling was again fixed to the price of gold albeit indirectly.

Keywords: Exchange Rate; Foreign Currency; Spot Rate; Fixed Exchange Rate; Fixed Price (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11852-6_5

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DOI: 10.1007/978-1-349-11852-6_5

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