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Dollar devaluation and yen rise in IMF realignment
Dr Paul A Samuelson explains the UPI story on the Washington monetary agreements. The eight percent devaluation targets official gold price changes while currencies like the yen and mark rise against the dollar. The plan aims to avert a global trade war, widen currency fluctuation bands, and boost American competitiveness. Nixon surcharge ends, but final details and funding remain to be decided for 1972.
MENTIONED IN THIS ARTICLE
Paul A. Samuelson
Massachusetts Institute of Technology
United Press International
UPI
Washington
IMP
International Monetary Fund
L.E
Canada
Zurich
Ours
Europe
Detroit
Vegas
Nixon
France