The first aim at this grand meeting was to create a new economic order around the world and to consolidate the economies of the countries. In the meeting, the first fixed exchange rate was determined and the establishment of the International Monetary Fund (IMF) and the World Bank was decided. Then the countries in the agreement were fixed in the national currency of the gold prices and started to be valued according to the US Dollar. So the Dollar was the only national currency convertible to Gold.
1 ounce gold is 35 dollars, 1 dollar is 0,8887 gr. It was identified as gold. In cases where were experienced, it was possible to change the value of money to any country against the dollar. The predicted devaluation and revaluation rates were limited to 10%. This agreement was particularly successful in the recovery of the economy in Europe and Japan. These principles lasted until 1971. Then the Smithsonian Agreement was signed.