What type of exchange rate system was established by the agreements made at the 1944 Bretton Woods conference?

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A system of mostly fixed exchange rates where each nation committed to intervene in currency markets to uphold the agreed value of its currency.A system where currency values were pegged to a fixed quantity of gold, which then set their international trading values.A regime of floating exchange rates determined by the relative supply and demand between different nations' currencies.A policy that forbade governments from participating in foreign exchange market interventions.A system allowing unrestricted currency fluctuations based on market forces without any governmental oversight.

Explanation

The Bretton Woods agreements of 1944 created a framework of largely fixed exchange rates. Under this arrangement, countries pledged to actively intervene in foreign exchange markets as needed to maintain their currency values at agreed levels, distinguishing it from pure gold standard or floating rate systems.