 On 9 September 1973, the peg was adjusted to US$1.4875, the fluctuation limits being changed to US$1.485–US$1.490; on both 7 December 1973 and 10 December 1973, the noon buying rate in New York City for cable transfers payable in foreign currencies reached its highest point of 1.4885 U.S. dollars to one dollar.On 12 December 1983, the dollar was floated, allowing its value to fluctuate dependent on supply and demand on international money markets.The decision was made on 8 December 1983 and announced on 9 December 1983.