Plaza Accord

In a September 1985 meeting at the Plaza Hotel in New York, G-5 officials
ratified an initiative to use exchange rates and other macropolicy
adjustments as the preferred and necessary means to bring about an orderly
decline in the value of the dollar. The agreement, intended to curb
increasing U.S. trade imbalances and protectionist action, supported
orderly appreciation of the main non-dollar currences against the dollar.