True that the imf articles of agreement set fixed exchange rates with par value based on gold and the U. S. Dollar.
The International Monetary Fund's Articles of Agreement were adopted on July 22, 1944, during the United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire. They were accepted by 29 countries at the time and have subsequently been signed and ratified by a total of 190 Member countries.
An exchange rate is the price upon which one currency is exchanged for another. Most exchange rates are defined as floating and will rise or decrease in response to market supply and demand. Some exchange rates are tied to the value of a particular country's currency.
To know more about funds :
https://brainly.com/question/20383417
#SPJ4
