An exchange arrangement was formed in 1979 that governs the currencies of European union member countries. What this arrangement called?
AEuropean Monetary Mechanism (EMM)
BCommon Monetary System (CMS)
CEuropean Monetary Fund (EMF)
DEuropean Currency System (ECS)
Correct answer
B. Common Monetary System (CMS)
Explanation
The correct answer is Common Monetary System (CMS).