Historical Year Data · 1972

South Africa Current Account (% GDP, WEO) in 1972

South Africa Current Account (% GDP, WEO) opened 1972 at -0.78% and closed at -0.78%, a +0.00% move for the year. The high of -0.78% was reached on December 31, and the low of -0.78% on December 31.

Open

-0.78%

1972-01

-0.78%

1 data points

High

-0.78%

Dec 31

Low

-0.78%

Dec 31

Full Year Change

+0.00%

1971 Change

+0.00%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Dec	-0.78%	-0.78%	-0.78%	-0.78%	+0.00%

Events During 1972

1971 Nixon Shock (End of Gold Standard)

Stagflation

August 15, 1971

On August 15, 1971, President Nixon announced the United States would no longer convert dollars to gold at $35/oz, ending the Bretton Woods system and ushering in the modern fiat era.

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