Bretton Woods system

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/bretton-woods-system

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. When was Bretton Woods system built?International Monetary Fund (IMF) and International Bank for Reconstruction and Development (IBRD)
2. What is the conference venue?Mount Washington Hotel, Bretton Woods, New Hampshire, USA
3. What is the year of agreement?1944
4. Why did countries keep their money close to the U.S. dollar?Keeping the money close to the dollar made prices for goods easier to compare, so trading between countries was smoother and less risky.
5. What are the IMF and the World Bank?The IMF watches exchange rates and gives quick loans when a country needs money. The World Bank (IBRD) helps rebuild war‑torn countries and now fights poverty.

Parity Rate: The official fixed value of one currency in relation to another.
Balance of Payments: A record of all financial transactions between a country and the rest of the world.
Fiat Currency: Money that is not backed by a physical commodity like gold, but by government decree.
Competitive Devaluation: A policy where a country intentionally lowers its currency value to boost exports.