System is also called the international system, it is to point to governments in order to solve the international economic exchanges for international currency (i.e., international payments and reserve assets), involving all aspects of the international currency, including the principle and system of international payments, the mechanisms regulating the balance of payments and international reserves supply and management, etc., within the scope of the international institutional arrangements.
The international monetary system reflects the rules and order involved in the settlement of financial flows and creditor’s rights among countries.
The international monetary system includes not only legally binding laws and regulations, rules and regulations, and organizational forms related to international monetary relations, but also non-legally binding traditional customs and agreements.
