By pegging/linking these currencies directly to the dollar,the value of the pegged currencies remained dependent on the value of the dollar.
The U.S government was obligated to maintain Gold reserves equal to the amount of currency in circulation, making the united state a true gold standard economy
At the same time,the value of the dollar was tied to the price of gold which,at the time of the Bretton Woods accord was valued at $35 an ounce
The bretton woods accord was not popular with every country included in the agreement. By link many Europeans economy to the U.S dollar, the dollar became the de facto world currency.This made it impossible for sovereign nations to manage the value of their own currency.
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