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On This Date
January 31, 1934:
Franklin Roosevelt issues a proclamation devaluing the dollar to 60 cents and setting the price the government will pay for gold at $35 an ounce, to protect the country's foreign trade from the effects of foreign currency devaluation.
Franklin Roosevelt issues a proclamation devaluing the dollar to 60 cents and setting the price the government will pay for gold at $35 an ounce, to protect the country's foreign trade from the effects of foreign currency devaluation.
