Given the task definition and input, reply with output. In this task, you are given a passage and a question regarding that passage. You must determine whether or not the question is answerable from the given passage. If a question is answerable, output should be 'True', otherwise 'False'. You must not consider any other information that is not provided in the passage while labelling True or False.

Passage: On August 15, 1971, the United States unilaterally pulled out of the Bretton Woods Accord. The US abandoned the Gold Exchange Standard whereby the value of the dollar had been pegged to the price of gold and all other currencies were pegged to the dollar, whose value was left to "float" (rise and fall according to market demand). Shortly thereafter, Britain followed, floating the pound sterling. The other industrialized nations followed suit with their respective currencies. Anticipating that currency values would fluctuate unpredictably for a time, the industrialized nations increased their reserves (by expanding their money supplies) in amounts far greater than before. The result was a depreciation of the dollar and other industrialized nations' currencies. Because oil was priced in dollars, oil producers' real income decreased. In September 1971, OPEC issued a joint communiqué stating that, from then on, they would price oil in terms of a fixed amount of gold. Question: What happened to other currencies value when the US abandoned oil?

False