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Published in:
1996 | OriginalPaper | Chapter
Determination of Spot Exchange Rates
Author : Laurent L. Jacque
Published in: Management and Control of Foreign Exchange Risk
Publisher: Springer Netherlands
Included in: Professional Book Archive
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Of all the winds of change that have buffeted multinational corporations in recent years, none has had a more pervasive impact upon their risk-return profile than the breakdown of the international monetary system of fixed exchange rates that had prevailed until March 1973 under the Bretton Woods agreement (1944–1971) and, later, under the short-lived Smithsonian accord (1971–1973).