Aartee Mishra is teaching live on Unacademy Plus
Daily Lectuire Series Ramesh Singh's A brief imary of unacademy By Aartee Mishra International Economic Organizations& India Hindi
I am Aartee Mishra Graduated from Delhi University, Topper in all my semesters, Pursuing P.G and preparing for CSE. 2 Years of teaching experience of General Studies for competitive examination Have been teaching on Unacademy Plus
What is the International Monetary System? The international monetary system refers to the institutional arrangements that countries adopt to govern exchange rates A floating exchange rate system exists when aa country allows the foreign exchange market to determine the relative value of a currency the U.S. dollar, the EU euro, the Japanese yen, and the British pound all float freely against each other their values are determined by market forces and fluctuate day to day
International monetary systems are sets of internationally agreed rules, conventions and supporting institutions, that facilitate international trade, cross border investment and generally there allocation of capital between nation states. International monetary system refers to the system prevailing in world foreign exchange markets through which international trade and capi movement are financed and exchange rates determined.
Adjustment: It refers to the process by which the balance-of-payment (BoP) crises of the nations of the world (or the member nations) are corrected. A good IMS tries to minimise the cost of BoP and time for adjustment for the nations. Liquidity: It refers to the amount of foreign currency reserves available to settle the BoP crises of the nations. A good IMS maintains as much foreign reserves to mitigate such crises of the nations without any inflationary pressures on the nations. Confidence: It refers to the faith the nations of the world should show that thee adjustment mechanism of the IMS is working adequately and that foreign reserves will retain their absolute and relative values. This confidence is based on the transparent knowledge information about the IMS.
BRETTON WOODS DEVELOPMENT As the powerful nations of the world were hopeful of a new and more stable world order with the emergence of the UNO, on the contrary, they were also anxious for a more homogenous world financial order, after the Second World War. The representatives of the USA, the UK and 42 other (total 44 countries) nations met at Bretton Woods, New Hampshire, USA in July 1944 to decide a new international monetary system. The International Monetary Fund (IMF) and the World Bank (with its first group-institution IBRD) were set up together-popularly called as the Bretton Woods' twins-both having their headquarters in Washington DC, USA.
NCERT Class 6-12 Intensive Coverage of All the Subjects Prelims & Mains Subjects Covereds Aartee Mishra Course Starting from, 31st Aug 730pm-900pm Polity: Governance, Society, Public Administration Geography: Indian and World Geography, All Important Maps, Physical and Political Features, Disaster Management History: Ancient, Medieval, Modern with Art & Culture Economics: Basic Concepts, Understanding Economic Development Science: Important Chapters of Environment and Ecology on Unacademy Plus
Meet you in Next Lesson Do remember to download the Unacademy Learning App from the Google Playstore Do Subscribe to Unacademy's Youtube Channel