The 1930s gold standard was a fixed exchange rate system in which deficit countries were required to adjust by way of deflation rather than devaluation.

上世纪30年代实行的“金本位制”是一种固定汇率制度，赤字国家必须通过通缩、而非汇率贬值的方式进行调整。

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The SDR was created in 1969, during the Bretton Woods fixed exchange-rate system, because of concerns that there was insufficient liquidity to support global economic activity.

SDR始创于1969年，当时正处于布雷顿森林固定汇率体系中。创立其目的是为了解决当时支持全球经济活动资金流动性不足的问题。

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The history of world exchange rate systems shows us that the world community (in its majority) has in fact shifted from the system of fixed exchange rates to floating exchange rate system.

世界汇率制度的历史告诉我们，世界各地的社区(在多数)事实上已经从固定汇率制转向浮动汇率制度。

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SDRs were created in 1969 to support the Bretton Woods fixed exchange rate system.

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But then, President Nixon took the dollar off that fixed exchange rate system, and it's very hard to imagine how we could go back there now.

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Like any fixed exchange-rate system, a currency board offers the prospect of a stable exchange rate, which can promote both trade and investment.

ECONOMIST: The ABC of a currency board