Bretton Woods Gold Convertibility and Dollar–Gold Relations (1944–1971)

1. Gold Reserve Act sets $35 official gold price

   Jan 30, 1934Labels: Gold Reserve, United States

   • FedHistory

2. Bretton Woods conference designs postwar monetary order

   Jul 22, 1944Labels: Bretton Woods, IMF

   • Britannica
   • IMF

3. IMF Articles enter into force, formalizing par values

   Dec 27, 1945Labels: IMF Articles, Par values

   • IMF
   • IMF

4. London gold market reopens, reviving private gold trading

   Mar 22, 1954Labels: London Gold, Private gold

   • LBMA

5. Triffin highlights dollar–gold system’s built-in tension

   Jan 1, 1960Labels: Robert Triffin, Triffin dilemma

   • Britannica
   • IMF

6. London Gold Pool created to defend $35 price

   Nov 1, 1961Labels: London Gold, Central banks

   • FedHistory
   • LBMA

7. Central banks end Gold Pool, adopt two-tier gold market

   Mar 17, 1968Labels: Two-tier gold, Central banks

   • UK Hansard
   • FedHistory

8. IMF adds SDR mechanism as reserve-asset supplement

   Jul 28, 1969Labels: Special Drawing, IMF

   • IMF
   • IMF F D

9. First SDR allocations begin under Bretton Woods

   Jan 1, 1970Labels: SDR allocations, IMF

   • IMF F D
   • PMC

10. Nixon suspends dollar–gold convertibility (“gold window” closes)

    Aug 15, 1971Labels: Nixon shock, US Treasury

    • FedHistory
    • Britannica

11. Smithsonian Agreement resets parities without restoring convertibility

    Dec 18, 1971Labels: Smithsonian Agreement, Major industrial

    • FedHistory
    • Britannica

12. Bretton Woods fixed-rate system effectively ends as major currencies float

    Mar 1, 1973Labels: Currency floats, Bretton Woods

    • FedHistory
    • Britannica