Definitions for "Gold exchange standard"
A monetary system that sought to restore features of the Gold Standard in the 1920s and again in the Bretton Woods System, while economizing on gold. Instead of money being backed directly by gold, central banks issued liabilities against foreign currency assets (mostly U.S. dollars under Bretton Woods) that were in turn backed by gold.
Gold fixing Gold standard
an exchange-rate system in which each nation fixes the value of its currency in terms of gold, but buys and sells the U.S. dollar rather than gold to maintain fixed exchange rates