A monetary system in which both the value of a unit of the currency and the quantity of it in circulation are specified in terms of gold. If two currencies are both on the gold standard, then the exchange rate between them is approximately determined by their two prices in terms of gold.
A monetary system whereby a country backs its paper currency with gold and agrees with other countries on the gold standard to buy and sell gold at a fixed price.
The original system for supporting the value of currency by backing it with gold.
The original system for supporting the value of currency issued. This system was active before 1973 when the fixed exchange rates were prevalent.
or gold convertibility - a system whereby a currency could be exchanged for a fixed amount of gold (until the 1970s).
monetary standard which defines the monetary unit of a country as consisting of a certain amount of gold. Every citizen could come to the Mint with a bar of gold and ask for currency (for example dollars) in exchange, at the legal price.
A form of international exchange in which units of currency are convertible into fixed amounts of gold.
The gold standard is a monetary system that measures the relative value of a currency against a specific amount of gold. Developed in England in the early 18th century, when the scientist Sir Isaac Newton was Master of the English Mint, the gold standard was used throughout the world by the late 19th century. The U.S. was on the gold standard until 1971, when it stopped redeeming its paper currency for gold.
the value of a currency is fixed relative to an amount of gold, can be converted to gold at a fixed rate (see also fixed exchange rates)
A system whereby national currencies are fixed in terms of their value in gold, thus creating fixed exchange rates between currencies.
a monetary system based on convertibility into gold; paper money backed and interchangeable with gold.
a monetary standard under which the basic unit of currency is defined by a stated quantity of gold
a special case of a currency board where the value of the national currency is linked to the value of gold instead of a foreign currency
An arrangement whereby the currencies of most countries are convertible into gold at a fixed rate.
the currency system under which the value of each national currency was related to a certain weight of gold, and thus to other national currencies.
Fixed exchange rate system based on gold.
An exchange rate system used prior to 1914 in which gold was used to settle national trade balances. Also called the “classical gold standard.
Historical monetary system associated with a fixed price, rather than a free-market price of gold.
An international monetary system in which currencies are defined in terms of their gold content, and payment imbalances between countries are settled in gold. It was in effect from about 1870 to 1914.
The original system for supporting the value of currency issued. The was that where the price of gold is fixed against the currency it means that the increased supply of gold does not lower the price of gold but causes prices to increase.
A monetary agreement whereby all national currencies 100 percent by gold and the gold is utilized for payments of foreign activity.
A system of monetary organization whereby the value of a country's currency is legally defined and tied to a fixed quantity of gold.
A monetary system where a country's currency is valued and convertible into a fixed quantity of gold.
the term to designate the monetary standard of a country when all the paper money it issues is backed by a gold reserve.
A monetary system in which currency is convertible into fixed amounts of gold. The US used to be on the gold standard but was taken off in 1971.
A monetary system based on gold. The basic currency unit of a country is pegged to a specified amount of gold.
A monetary arrangement under which the basic unit of currency is defined against a stated amount of gold.
A national monetary system recognizing old as a medium of exchange or measure of value.
A monetary system in which a country's currency unit is freely convertible into fixed amounts of gold.
A monetary system whereby every form of currency issued by a country is convertible on demand into its legal equivalent in gold or gold coin
A monetary system in which currencies are defined in terms of a given weight of gold.
The actual system for supporting the value of foreign currency issued. The price of gold is fixed against the currency it states that the increased supply of gold does not reduces the price of gold but causes prices to increase.
The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold.
