Answer: the U.S. dollar was the only currency that was fully convertible to gold; other currencies were not directly convertible to gold
Explanation:
The Bretton Woods system was a system that was based on dollar, being used as a standard for other currencies from other parts of the world which in turn was pegged to the good price.
Under this system, the U.S. dollar was the only currency that was fully convertible to gold; other currencies were not directly convertible to gold.
