Plaza Accord

Agreement among country representatives in 1985 to implement a coordinated program to weaken the dollar.

Plaza Accord

An agreement between the United States, the United Kingdom, West Germany, the United Kingdom, and Japan in 1985 to gradually devalue the U.S. dollar with respect to other currencies. The countries did this by selling dollars from their foreign currency reserves. In the years leading up to 1985 the dollar had become quite strong and was causing significant current account deficits and was making American exports less competitive globally. As a result of the Plaza Accord, the dollar depreciated more than 50% in an orderly fashion over the following two years. Interestingly, the Plaza Accord was the first major currency agreement involving Japan.

单词	plaza accord
释义	Plaza Accord Plaza Accord Agreement among country representatives in 1985 to implement a coordinated program to weaken the dollar. Plaza Accord An agreement between the United States, the United Kingdom, West Germany, the United Kingdom, and Japan in 1985 to gradually devalue the U.S. dollar with respect to other currencies. The countries did this by selling dollars from their foreign currency reserves. In the years leading up to 1985 the dollar had become quite strong and was causing significant current account deficits and was making American exports less competitive globally. As a result of the Plaza Accord, the dollar depreciated more than 50% in an orderly fashion over the following two years. Interestingly, the Plaza Accord was the first major currency agreement involving Japan.
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