The United States ultimately could not maintain the dollar's
promised convertibility, ending it in 1971.
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The US could not maintain the dollar's convertibility because of
inflation and a subsequent run on the U.S. gold reserve.
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yes
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Current account convertibility means freedom to buy or sell foreign exchange for the entire trade purposes.(Eg: buying and selling of goods,interest payments etc...)
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Nixon's decision to end the U.S. dollar's convertibility to gold