An exchange rate system in which prices of various currencies are fixed relative to a given
Quantity of some commodity is called a

Question

Quizplus · Accepted Answer

A commodity standard system fixes the exchange rates of currencies relative to the value of a specific commodity, such as gold or silver. This system was commonly used in the past, but has been replaced by other systems such as fixed and floating exchange rates. Managed float and free-floating exchange rate systems do not involve fixing exchange rates to a commodity.

An Exchange Rate System in Which Prices of Various Currencies