The paper includes two parts. The objective of the first part is to define a multinational monetary system. There is no such definition in the economic literature although certain terms related to the notion of the system are commonly used in economics. In order to achieve such an objective, the first part briefly presents the principles, characteristics and types of those systems that existed in the past and ceased to function, and those that are currently in operation. The systems considered include: the golden currency system, the Bretton Woods system, the European Monetary System and the currency system of the euro area. The definition developed in this way served to examine the structure and types of multinational monetary systems.

The second part of the paper examines if the breakdown of the Bretton Woods system was followed by the establishment of a new international monetary system. In order to do that, the paper mentions changes implemented to adjust the Bretton Woods system to new circumstances. The description focuses on the transition of the exchange rate system and its influence on the functioning of the modified Bretton Woods system. Additionally, the paper presents principles that currently constitute the basic framework for regulations of international financial relations.