In 1944, a historic conference took place, paving the way for the post-war foreign exchange system that would remain intact for decades. This conference resulted in the establishment of the International Monetary Fund (IMF), an organization dedicated to promoting global economic cooperation and financial stability. Under this system, currencies were pegged to gold or the US dollar, with a 1% margin of fluctuation. This fixed exchange rate system had a significant impact on the global economy and shaped the financial landscape for years to come.
