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Diagram of the British slave ship Brookes, published in 1788. Public domain, British Library.

Diagram of the British slave ship Brookes, published in 1788. Public domain, British Library.

WallPost·America 250 · Article 213 of 250
The Decision · 1985

Five Countries Push the Dollar

At a glance

At the Plaza Hotel in 1985, five governments agreed to push the dollar down.

If money is tight

If money is tight, a cheaper dollar can mean dearer imports at the store.

If you are in the middle

If you are in the middle, a factory that exports gets a lift and a household that buys imports pays.

If you already have assets

If you have savings, overseas earnings and domestic exporters are revalued by a meeting.

On September 22, 1985, the United States, Japan, West Germany, France, and Britain announced the Plaza Accord.

They wanted a weaker dollar after a long climb.

The dollar fell.

Source: Plaza Accord communique, September 22, 1985.