Correct option is D
The Bretton Woods system, established in 1944, pegged currencies to the U.S. dollar, convertible into gold at a fixed rate. It ended in 1971 when the U.S. suspended dollar-gold convertibility due to inflation and trade deficits, transitioning to floating rates.
Information Booster: Bretton Woods was instrumental in creating financial institutions like the IMF and World Bank to promote global economic stability. Its collapse marked a new era of economic globalization and market-driven currencies.
Additional Knowledge: The system was strained by the U.S. balance of payments deficit and inflationary pressures from the Vietnam War, leading to its demise.