- 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 1870-1914. The New York Times Financial Glossary
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* * *A monetary system of fixed exchange rates whose parities were set in relation to gold. Under the system, central banks had to be able to exchange gold for any amount of their currencies. Most developed countries had abandoned the gold standard before the end of the Second World War.
Financial and business terms. 2012.
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