A City Guide To Bajitpur for In just six months, the Japanese lost ¥250 million in gold reserves. This financial disaster contributed to Japan’s nationalist rejection of the liberal international economic system in the 1930s, leading to WORLD WAR II. After World War II, Japan participated in the BRETTON WOODS system of fixed exchange rates sponsored by the UNITED STATES to promote economic stability among its Cold War allies. In the 1950s and 1960s, the yen was pegged at ¥360 to $1. In the early 1970s, however, the financial strain of the VIETNAM WAR forced the United States to allow exchange rates to fluctuate according to currency market forces. By 1978, the yen had appreciated to ¥230 per DOLLAR. In 1985, the Bank of Japan agreed in the Plaza Accords to cooperate with other major central banks to depreciate the dollar. A City Guide To Bajitpur 2016.