what backs the u s dollar 
previously the u s dollar was backed by gold today the u s dollar isn t backed by anything other than the u s government s own ability to generate revenue the bottom linethe bretton woods agreement established a currency exchange regime system in 1944 following years of negotiations among 44 nations this system required a currency peg to the u s dollar which was in turn pegged to the price of gold the bretton woods system ultimately would go on to collapse in the 1970s the bretton woods agreement also established institutions such as the international monetary fund and the world bank both of which continue to play an important role in the financial world today 