Plaza Accord

Definitions

Economics

  • An agreement reached in 1985 among the central banks of France, Germany, Japan, US, and UK to bring down the value of the U.S. dollar, which had appreciated substantially since 1980. By the time of the Louvre Accord, two years later, the dollar had fallen 30%.

Forex

  • The extraordinary agreement to use coordinated central bank intervention to devalue the U.S. Dollar. The Plaza Accord was named for the Plaza Hotel in New York City where the agreement was signed on September 22nd, 1985 by the governments of the United States, the United Kingdom, Japan, France and West Germany.
http://www.dictionarycentral.com/definition/plaza-accord.html