What were the key features of the Bretton Woods system's exchange rate mechanism, and how did it contribute to global economic stability? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a It involved fixed exchange rates, with currencies pegged to the U.S. dollar, promoting stability but faced currency crises. b It embraced flexible exchange rates, allowing countries to manage their currency values independently and ensuring long-term stability. c It mandated a gold standard, tying all currencies directly to gold, thereby preventing inflationary pressures. d It encouraged widespread currency speculation, leading to frequent and unpredictable fluctuations in exchange rates