A reserve currency is a foreign currency that is held by governments, central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in intern
John Maynard Keynes (right) and Harry Dexter White helped to draft the provisions of the post-war financial system. Here, they meet at the inaugural meeting of the International Monetary Fund, 1946.
The Bretton Woods system of monetary management established the rules for commercial relations among 44 countries, including the United States, Canada, European countries, and Australia, after the 194
Cordell Hull, U.S. Secretary of State 1933–44