1944 In July, the International Monetary and Financial Conference of the countries of the United Nations League was held in Bretton Woods, New Hampshire, USA, and the Agreement of the International Monetary Fund was adopted, establishing an international monetary system centered on the US dollar, namely the Bretton Woods system. According to this system, the dollar is linked to gold (1 ounce of gold = $35); National currencies are linked to the US dollar, and central banks can exchange US dollars for gold from the US central bank at the prescribed official price, thus establishing an international gold exchange standard currency system centered on the US dollar.

After 1970s, the standard currency system of international gold exchange collapsed due to the outflow of American gold, which finally cut off the connection between currency and gold.