The U.S. dollar is the official currency of the United States. New Zealand, Liberia, & Hong Kong are among the countries that utilize over 20 currencies called the dollar. On the other hand, these currencies are not pegged to the dollar.
There are one hundred cents in a U.S. dollar. The late 18th century saw the introduction of the U.S. dollar. The Spanish peso was once the currency of choice.
Alexander Hamilton used the silver content of a Spanish dollar, the Secretary of State of the United States, to determine the value of the United States dollar.
A little over 24 grams of pure silver was included in each U.S. dollar coin. Other metals in 19th-century coins gradually replaced pure silver.
Although one-dollar coins are still in use, most of today’s dollars are printed as paper notes. $1, $5, $10, $20, $50, & $100 bills are all readily accessible. The Treasury issued larger banknotes until the late 1960s.
The U.S. dollar isn’t merely the official currency of the United States. Countries and territories where it is used as a currency include:
- Caribbean Netherlands
- East Timor
- El Salvador
- Federated States of Micronesia
- Marshall Islands
Also See: Cost of Living by Country 2022