international monetary system
international monetary system, rules and procedures by which different national currencies are exchanged for each other in world trade. Such a system is necessary to define a common standard of value for the world's currencies.
Sections in this article:
- Floating Exchange Rates and Recent Developments
- The Gold and Gold Bullion Standards
- The Gold-Exchange System
- The Two-Tier System
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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