What two main elements did the original Bretton Woods system establish?

The Bretton Woods system, established in 1944, aimed to create a framework for international economic cooperation following World War II. The two main elements of the original Bretton Woods system were indeed focused on currency exchange and trade facilitation. This system introduced fixed exchange rates where currencies were pegged to the US dollar, which in turn was convertible to gold. This arrangement aimed to promote stability in exchange rates and reduce the risks associated with currency fluctuations, thereby facilitating international trade.

Additionally, the Bretton Woods system established institutions such as the International Monetary Fund (IMF) and the World Bank, which were designed to support trade and economic development among nations. These institutions helped manage international monetary relations and provided the necessary funding and policy guidance to stabilize economies and promote trade.

This option accurately reflects the core objectives of the Bretton Woods Conference, whereas the other choices do not encompass the primary focus of the agreement. For example, trade barriers contradict the intent of the system to promote liberalized trade, and while foreign investments and international loans are important aspects of global economics, they are not the foundational elements laid out at Bretton Woods in the context of currency stability and trade facilitation.