Which of the following is true? Under the gold standard, each currency was convertible into gold at a specified rate, and the exchange rate between two currencies was determined by their relative convertibility rates per ounce of gold. Bretton Woods Agreement called for floating exchange rates between currencies. All of the above. Under the Smithsonian Agreement, the U.S. dollar was pegged to gold at $35/ ounce and other currencies were pegged to the U.S. dollar