Benin Map on dollars with gold reserves at the rate of $35 per ounce. Though viewed as a temporary solution until a devaluation of the U.S. dollar could be negotiated, this drastic action spelled the beginning of the end for the Bretton Woods system. Although a devaluation of the dollar was implemented later that year, it proved to only be a temporary solution. In early 1973, another crisis emerged, and by March of that year the currencies of major industrial nations were floating (within limits) against the dollar. This system of market-based exchange rates has remained in place ever since. Benin Map 2016.