Louvre Accord

Definitions

Economics

  • An agreement reached in 1987 among the central banks of France, Germany, Japan, US, and UK to stop the decline in the value of the US dollar that they had initiated at the Plaza Accord.

Forex

  • A 1987 exchange rate agreement between the nations of the G-6, which at the time was composed of West Germany, Japan, Great Britain, France, Canada and the United States. The accord was implemented to stem U.S. Dollar depreciation initiated by the 1985 Plaza Accord and promoted currency price stability and reference ranges for currency values instead of strict bands.
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