What Were The Plaza Accords?

The Plaza Accords were a series of agreements reached in September 1985 among the finance ministers and central bank governors of the United States, Japan, Germany, France, and the United Kingdom. The primary goal of the Plaza Accords was to address the problem of a significantly overvalued U.S. dollar and its impact on global trade imbalances.

During the early 1980s, the U.S. dollar had appreciated significantly against other major currencies, creating a trade deficit for the United States and trade surpluses for countries like Japan and Germany. The Plaza Accords aimed to address this situation by coordinating a devaluation of the U.S. dollar against other major currencies.

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