USD – US Dollar
Sign – $ / Code – USD
Long before our corporate currency exchange brokers were helping our clients with their US Dollar transfers, the Dollar was creating its own rich history.
About the US Dollar
The US dollar was officially adopted in 1785, while the Coinage Act of 1792 established the coinage system and its denominations.
The US dollar is the most traded currency on the FX market, as well as the world’s most dominant reserve currency. Its power can be seen in the fact that it is used as the standard currency in the commodity market.
Many countries, such as Vietnam, Cambodia, Nicaragua and Belize, accept the dollar as a form of payment, even though it is not their official currency.
Some countries, like Panama and Ecuador, also accept the Dollar as legal tender, a practice known as ‘dollarization’.
Denominations
Subunit: Cent – 1/100
Coins: 1¢, 5¢, 10¢, 25¢
Banknotes: $1, $5, $10, $20, $50, $100
Bank: Federal Reserve System
The most popular exchanges for this currency are US Dollars to Euros and US Dollars to British Pound Sterling.
by Currency UK
