The event that resulted in the end of the Bretton Woods system was The United States decision to abandon the gold standard.
The Bretton Woods system was a monetary management system which created the rules for commercial and financial transactions among the United States, Canada, Western European countries, Australia, and Japan.
This system came into existence after the Bretton Woods Agreement of 1944.
Due to the overvaluation of the US dollar, President Richard Nixon in 1971 announced the temporary suspension of the dollar's convertibility into gold.
This effectively led to the breakdown of the Bretton wood system.
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