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Louvre accord

The Louvre accord is the council meeting by G7 nations, held at the Louvre palace on 22nd February, 1987, and this meeting pursued correcting the lower value of US dollar.

In the forex market, US dollar sharply fell to 150-ish again Japanese Yen after the Plaza accord. To stop this movement, the developed countries held a meeting at the Louvre palace in Paris and they accorded to take the relevant actions to stabilize the value of US dollar for fear that the further weaker dollar should disrupt the economic growth and the possible adjustment.

The central banks aggressively intervened the forex market to support the value of US dollar in vain.

 
 

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