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Official currency of the The states

United States dollar
Federal Reserve Notes Quarter dollar (25 cents) coin (obverse)
ISO 4217
Code	USD
Number	840
Exponent	two
Denominations
Superunit
10	Eagle
Subunit
1⁄10	Dime
1⁄100	Cent
1⁄one thousand	Mill
Symbol	$, Usa$, U$
Cent	¢
Mill	₥
Nickname	List of nicknames Ace, edible bean, bill, bone, buck, deuce, dub, ducat, doubloon, fin, frog, greenback, large, simoleons, skins, smackeroo, smackers, spondulix, Tom, g, and eagle Plural: dead presidents, green, basic, clams Based on denomination: Washingtons, Jeffersons, Lincolns, Hamiltons, Jacksons, Grants, and Benjamins, C-notation, yard, sawbuck, unmarried, Bluefaces
Banknotes
Freq. used	$1, $5, $10, $20, $50, $100
Rarely used	$2 (nevertheless printed); $500, $one,000, $5,000, $10,000 (discontinued, still legal tender)
Coins
Freq. used	1¢, five¢, 10¢, 25¢
Rarely used	50¢, $ane (notwithstanding minted); ½¢ 2¢, three¢ (Nickel); 3¢ (Silvery); 20¢, $two.50, $3, $20 (discontinued, still legal tender); $5, $x (legal tender, now commemorative but)
Demographics
Date of introduction	April 2, 1792; 230 years agone  (1792-04-02)
Source	[1]
Replaced	Continental currency Diverse foreign currencies, including: Pound sterling Spanish dollar
User(s)	U.s. ix dependent territories American Samoa (US) British Indian Ocean Territory (UK) (de facto alongside de jure Pound sterling[ citation needed ]) British Virgin Islands (United kingdom) Caribbean Netherlands (Netherlands) Guam (US) Northern Mariana Islands (US) Puerto Rico (US) Turks and Caicos (UK) US Virgin Islands (US) 8 other countries Cambodia[2] [three] (Alongside the Cambodian Riel) East Timor[iv] [a] Republic of ecuador[five] [b] El Salvador[6] [c] Marshall Islands Micronesia Palau Panama (Alongside Panamanian balboa)
Issuance
Key bank	Federal Reserve
Website	federalreserve.gov
Printer	Bureau of Engraving and Printing
Website	moneyfactory.gov
Mint	United States Mint
Website	usmint.gov
Valuation
Inflation	8.5%
Source	BLS, March 2022
Method	CPI
Pegged by	39 currencies Aruban florin Bahamian dollar (at par) Bahraini dinar (college value) Barbadian dollar Belarusian ruble (alongside Euro and Russian Ruble in currency basket) Belize dollar Bermudian dollar (at par) Cayman Islands dollar (higher value) Costa Rican colon Cuban convertible peso Djiboutian franc East Caribbean Dollar East Timor centavo coins (at par) Ecuadorian centavo coins (at par) Salvadoran colon Eritrean nakfa Guatemalan quetzal Haitian gourde Honduran lempira Hong Kong dollar (narrow band) Iraqi dinar Jordanian dinar (higher value) Kuwaiti dinar (higher value) Lebanese pound Antillean guilder Nicaraguan cordoba Nigerian naira Peruvian sol Omani rial (higher value) Panamanian balboa (at par) Qatari riyal Saudi riyal Sierra Leonean leone Trinidad and Tobago dollar United Arab Emirates dirham Venezuelan bolívar Yemeni rial (lower value) Zimbabwean bond coins and bond notes (at par)

The U.s.a. dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.Due south. dollar, American dollar, or colloquially buck) is the official currency of the U.s. and several other countries. The Coinage Human activity of 1792 introduced the U.S. dollar at par with the Castilian silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly chosen greenbacks due to their predominantly green colour.

The budgetary policy of the U.s. is conducted by the Federal Reserve System, which acts as the nation'southward cardinal banking company.

The U.Southward. dollar was originally defined nether a bimetallic standard of 371.25 grains (24.057 g) (0.7735 troy ounces) fine argent or, from 1837, 23.22 grains (one.505 g) fine gold, or $twenty.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to golden was revised to $35 per troy ounce. Since 1971 all links to aureate take been repealed.^[7]

The U.Southward. dollar became an important international reserve currency after the First World War, and displaced the pound sterling as the world's main reserve currency by the Bretton Woods Agreement towards the cease of the Second Globe War. The dollar is the most widely used currency in international transactions,^[8] and a free-floating currency. It is also the official currency in several countries and the de facto currency in many others,^{[9] [10]} with Federal Reserve Notes (and, in a few cases, U.S. coins) used in circulation.

Every bit of February 10, 2021, currency in apportionment amounted to US$2.x trillion, $ii.05 trillion of which is in Federal Reserve Notes (the remaining $l billion is in the form of coins and older-style Us Notes).^[11]

Overview [edit]

In the Constitution [edit]

Commodity I, Department 8 of the U.S. Constitution provides that Congress has the power "[t]o money money."^[12] Laws implementing this ability are currently codified in Championship 31 of the U.Due south. Code, nether Section 5112, which prescribes the forms in which the United States dollars should be issued.^[13] These coins are both designated in the department as "legal tender" in payment of debts.^[13] The Sacagawea dollar is 1 case of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silvery. Section 5112 also provides for the minting and issuance of other coins, which take values ranging from 1 cent (U.Due south. Penny) to 100 dollars.^[13] These other coins are more fully described in Coins of the The states dollar.

Article I, Section 9 of the Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Coin shall be published from time to time,"^[14] which is further specified by Section 331 of Championship 31 of the U.S. Code.^[15] The sums of coin reported in the "Statements" are currently expressed in U.S. dollars, thus the U.Due south. dollar may exist described equally the unit of account of the United states of america.^[sixteen] "Dollar" is i of the beginning words of Section 9, in which the term refers to the Spanish milled dollar, or the coin worth eight Spanish reales.

The Coinage Act [edit]

In 1792, the U.S. Congress passed the Coinage Act, of which Department 9 authorized the production of various coins, including:^{[17] : 248}

Dollars or Units—each to exist of the value of a Spanish milled dollar every bit the same is now current, and to contain three hundred and seventy-1 grains and four sixteenth parts of a grain of pure, or four hundred and xvi grains of standard silvery.

Department 20 of the Act designates the United States dollar every bit the unit of measurement of currency of the United States:^{[17] : 250–1}

[T]he money of business relationship of the Us shall exist expressed in dollars, or units…and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation.

Decimal units [edit]

Unlike the Spanish milled dollar, the Continental Congress and the Coinage Human activity prescribed a decimal system of units to go with the unit of measurement dollar, as follows:^{[eighteen] [19]} the mill, or one-thousandth of a dollar; the cent, or ane-hundredth of a dollar; the dime, or one-tenth of a dollar; and the eagle, or ten dollars. The current relevance of these units:

• Only the cent (¢) is used equally everyday division of the dollar.
• The dime is used solely every bit the proper noun of the money with the value of 10 cents.
• The mill (₥) is relatively unknown, but before the mid-20th century was familiarly used in matters of sales taxes, as well as gasoline prices, which are ordinarily in the grade of $ΧΧ.ΧΧ9 per gallon (e.g., $3.599, normally written as $3.59+ 9⁄x ).^{[20] [21]}
• The eagle is too largely unknown to the full general public.^[21] This term was used in the Coinage Human activity of 1792 for the denomination of x dollars, and afterward was used in naming gold coins.

The Spanish peso or dollar was historically divided into eight reales (colloquially, $.25) - hence pieces of 8. Americans also learned counting in non-decimal bits of 12 1⁄2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practise survived in New York Stock Exchange quotations until 2001.^{[22] [23]}

In 1854, Secretarial assistant of the Treasury James Guthrie proposed creating $100, $fifty, and $25 gold coins, to exist referred to equally a union, half marriage, and quarter matrimony, respectively,^[24] thus implying a denomination of ane Union = $100. Still, no such coins were ever struck, and only patterns for the $fifty half wedlock exist.

When currently issued in circulating form, denominations less than or equal to a dollar are emitted every bit U.S. coins, while denominations greater than or equal to a dollar are emitted as Federal Reserve Notes, disregarding these special cases:

• Gold coins issued for apportionment until the 1930s, upwards to the value of $xx (known equally the double eagle)
• Bullion or commemorative golden, silver, platinum, and palladium coins valued up to $100 every bit legal tender (though worth far more than as bullion).
• Civil State of war paper currency consequence in denominations below $1, i.east. partial currency, sometimes pejoratively referred to as shinplasters.

Etymology [edit]

Farther information: Dollar

In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known every bit joachimstalers, named for Joachimstal, the valley in which the silver was mined. In turn, the valley'due south proper name is titled after Saint Joachim, whereby thal or tal, a cognate of the English word dale, is German language for 'valley.'^[25] The joachimstaler was later shortened to the German language taler, a word that eventually found its manner into many languages, including:^[25] tolar (Czech, Slovak and Slovenian); daler (Danish and Swedish); dalar and daler (Norwegian); daler or daalder (Dutch); talari (Ethiopian); tallér (Hungarian); tallero (Italian); دولار (Arabic); and dollar (English).

Though the Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the grade of German-Dutch reichsthalers and native Dutch leeuwendaalders ('panthera leo dollars'), it was the ubiquitous Spanish American eight-real money which became exclusively known as the dollar since the 18th century.^[26]

Nicknames [edit]

The colloquialism cadet(s) (much like the British quid for the pound sterling) is oftentimes used to refer to dollars of diverse nations, including the U.Due south. dollar. This term, dating to the 18th century, may take originated with the colonial leather trade, or it may also have originated from a poker term.^[27]

Greenback is another nickname, originally applied specifically to the 19th-century Demand Notation dollars, which were printed black and green on the behind, created past Abraham Lincoln to finance the N for the Civil State of war.^[28] It is still used to refer to the U.S. dollar (just not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia,^[29] New Zealand,^[thirty] South Africa,^[31] and Bharat.^[32]

Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents , the latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as basic (e.g. "xx bones" = $20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper colour-coded by denomination, are sometimes referred to as bigface notes or Monopoly money .

Piastre was the original French word for the U.Southward. dollar, used for case in the French text of the Louisiana Purchase. Though the U.S. dollar is called dollar in Modernistic French, the term piastre is still used among the speakers of Cajun French and New England French, too as speakers in Haiti and other French-speaking Caribbean islands.

Nicknames specific to denomination:

• The quarter dollar coin is known as two bits, betraying the dollar's origins as the "piece of 8" (bits or reales).^[22]
• The $one bill is nicknamed buck or single.
• The infrequently-used $2 nib is sometimes called deuce, Tom, or Jefferson (after Thomas Jefferson).
• The $five nib is sometimes called Lincoln, fin, fiver, or five-spot.
• The $x pecker is sometimes called sawbuck, 10-spot, or Hamilton (after Alexander Hamilton).
• The $20 beak is sometimes chosen double sawbuck, Jackson (after Andrew Jackson), or double hawkeye.
• The $50 neb is sometimes called a yardstick, or a grant, after President Ulysses S. Grant.
• The $100 beak is called Benjamin, Benji, Ben, or Franklin, referring to its portrait of Benjamin Franklin. Other nicknames include C-note (C being the Roman numeral for 100), century note, or bill (e.1000. ii bills = $200).
• Amounts or multiples of $i,000 are sometimes called chiliad in colloquial speech, abbreviated in written grade to G, 1000, or grand (from kilo; east.m. $10k = $x,000). Likewise, a large or stack can also refer to a multiple of $i,000 (e.one thousand. "fifty big" = $50,000).

Dollar sign [edit]

The symbol $, unremarkably written before the numerical amount, is used for the U.S. dollar (as well every bit for many other currencies). The sign was the result of a tardily 18th-century evolution of the scribal abridgement p^s for the peso, the mutual name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ .^{[33] [34] [35] [36]}

Another popular caption is that information technology is derived from the Pillars of Hercules on the Castilian Coat of arms of the Spanish dollar. These Pillars of Hercules on the silverish Castilian dollar coins take the form of 2 vertical confined (||) and a swinging fabric band in the shape of an S .

Nonetheless another explanation suggests that the dollar sign was formed from the capital messages U and Due south written or printed one on top of the other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged,^[37] does not consider the fact that the symbol was already in utilise before the formation of the U.s.a..^[38]

History [edit]

Origins: the Spanish dollar [edit]

The U.Southward. dollar was introduced at par with the Spanish-American argent dollar (or Spanish peso, Spanish milled dollar, eight-real coin, piece-of-eight). The latter was produced from the rich silver mine output of Castilian America; minted in Mexico City, Potosí (Bolivia), Lima (Peru) and elsewhere; and was in wide circulation throughout the Americas, Asia and Europe from the 16th to 19th centuries. The minting of machine-milled Castilian dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be model for the new currency of the United States.

Fifty-fifty after the Us Mint commenced issuing coins in 1792, locally minted dollars and cents were less arable in circulation than Spanish American pesos and reales; hence Spanish, Mexican and American dollars all remained legal tender in the United States until the Coinage Deed of 1857. In detail, Colonists' familiarity with the Castilian two-real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar money rather than a twenty-cent coin.

For the relationship betwixt the Spanish dollar and the private state colonial currencies, see Connecticut pound, Delaware pound, Georgia pound, Maryland pound, Massachusetts pound, New Hampshire pound, New Jersey pound, New York pound, North Carolina pound, Pennsylvania pound, Rhode Island pound, S Carolina pound, and Virginia pound.

Coinage Act of 1792 [edit]

Alexander Hamilton finalized the details of the 1792 Coinage Human activity and the establishment of the U.S. Mint.

On the 6th of July 1785, the Continental Congress resolved that the money unit of the United states of america, the dollar, would comprise 375.64 grains of fine silver; on the 8th of August 1786, the Continental Congress continued that definition and further resolved that the money of business relationship, corresponding with the division of coins, would proceed in a decimal ratio, with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of a dollar, and dimes at 0.100 of a dollar.^[eighteen]

Later on the adoption of the Us Constitution, the U.Southward. dollar was defined by the Coinage Act of 1792. It specified a "dollar" based on the Spanish milled dollar to incorporate 371 4⁄16 grains of fine silver, or 416.0 grains (26.96 m) of "standard argent" of fineness 371.25/416 = 89.24%; as well as an "hawkeye" to contain 247 4⁄8 grains of fine aureate, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold.^[39] Alexander Hamilton arrived at these numbers based on a treasury assay of the boilerplate fine silver content of a selection of worn Spanish dollars, which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for golden was calculated at 371/xv = 24.73 grains fine aureate or 26.98 grains 22K golden. Rounding the latter to 27.0 grains finalized the dollar'south standard to 24.75 grains of fine gilt or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silverish.

The same coinage human activity also fix the value of an hawkeye at ten dollars, and the dollar at 1⁄ten eagle. It chosen for silver coins in denominations of 1, 1⁄two , 1⁄iv , 1⁄10 , and i⁄20 dollar, as well as gold coins in denominations of 1, 1⁄two and 1⁄iv eagle. The value of gold or silverish contained in the dollar was and then converted into relative value in the economy for the buying and selling of goods. This allowed the value of things to remain adequately constant over time, except for the influx and outflux of gold and silverish in the nation's economy.^[xl]

Though a Castilian dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.i grains fine silver), reliable assays of the menses in fact confirmed a fine silver content of 370.95 grains (24.037 k) for the average Spanish dollar in circulation. ^[41] The new U.S. silver dollar of 371.25 grains (24.057 thou) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the U.s.a. Mint had to suspend making this coin out of its limited resource since information technology failed to stay in domestic circulation. It was only afterward Mexican independence in 1821 when their peso'southward fine silver content of 377.1 grains was firmly upheld, which the U.Southward. subsequently had to compete with using a heavier 378.0 grains (24.49 one thousand) Trade dollar coin.

Blueprint [edit]

The early currency of the United States did not showroom faces of presidents, every bit is the custom now;^[42] although today, by law, only the portrait of a deceased individual may appear on U.s. currency.^[43] In fact, the newly formed government was confronting having portraits of leaders on the currency, a exercise compared to the policies of European monarchs.^[44] The currency equally nosotros know information technology today did not get the faces they currently have until later the early 20th century; before that "heads" side of coinage used contour faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of celebrated Americans were the dime (1946) and the Dollar (1971).

Continental currency [edit]

Continental one third dollar bill (obverse)

Later on the American Revolution, the thirteen colonies became independent. Freed from British budgetary regulations, they each issued £sd paper money to pay for war machine expenses. The Continental Congress also began issuing "Continental Currency" denominated in Castilian dollars. For its value relative to states' currencies, see Early on American currency.

Continental currency depreciated desperately during the state of war, giving ascent to the famous phrase "not worth a continental".^[45] A master problem was that budgetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds.^[46] The currency was ultimately replaced past the argent dollar at the charge per unit of ane silver dollar to yard continental dollars. It gave rise to the phrase "not worth a continental", and was responsible for the clause in article 1, section 10 of the United States Constitution which reads: "No state shall... make anything but gold and silver coin a tender in payment of debts".

Argent and gold standards, 19th century [edit]

From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 1000) of fine silver or 24.75 grains of fine gold (gold-argent ratio 15).

Subsequent to the Coinage Human activity of 1834 the dollar'southward fine gold equivalent was revised to 23.2 grains; information technology was slightly adapted to 23.22 grains (1.505 g) in 1837 (aureate-silvery ratio ~sixteen). The aforementioned human activity also resolved the difficulty in minting the "standard argent" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silverish, still containing 371.25 grains fine argent. Gold was also revised to 90% fineness: 25.eight grains gross, 23.22 grains fine golden.

Following the rise in the toll of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Human action of 1853 reduced the standard for silver coins less than $1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 m, ninety% argent in 1873). The Act also limited the free argent right of individuals to convert bullion into merely one money, the silverish dollar of 412.five grains; smaller coins of lower standard can only be produced past the United States Mint using its own bullion.

Summary and links to coins issued in the 19th century:

• In base metallic: 1/ii cent, one cent, 5 cents.
• In silver: half dime, dime, quarter dollar, half dollar, silverish dollar.
• In gold: gold $one, $2.fifty quarter eagle, $five one-half eagle, $x eagle, $20 double eagle
• Less common denominations: bronze 2 cents, nickel 3 cents, silverish 3 cents, silverish 20 cents, gold $three.

Note issues, 19th century [edit]

In order to finance the War of 1812, Congress authorized the issuance of Treasury Notes, interest-begetting brusk-term debt that could exist used to pay public dues. While they were intended to serve as debt, they did role "to a express extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857, as well equally to help finance the Mexican–American War and the Civil War.

Paper money was issued once again in 1862 without the backing of precious metals due to the Civil War. In addition to Treasury Notes, Congress in 1861 authorized the Treasury to borrow $50 million in the grade of Need Notes, which did non carry interest but could be redeemed on demand for precious metals. Withal, by December 1861, the Union government'due south supply of specie was outstripped past demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862, issuing U.s. Notes, which were non redeemable on demand and bore no interest, but were legal tender, significant that creditors had to have them at confront value for any payment except for public debts and import tariffs. All the same, silvery and gold coins continued to be issued, resulting in the depreciation of the newly printed notes through Gresham's Law. In 1869, Supreme Courtroom ruled in Hepburn v. Griswold that Congress could not require creditors to take United States Notes, but overturned that ruling the next twelvemonth in the Legal Tender Cases. In 1875, Congress passed the Specie Payment Resumption Act, requiring the Treasury to permit U.S. Notes to exist redeemed for golden afterward Jan ane, 1879.

Gold standard, 20th century [edit]

Though the dollar came under the gold standard de jure simply subsequently 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 grains (26.73 g = 0.8595 oz t), the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver) quantities,^[47] and right at the onset of the argent blitz from the Comstock Lode in the 1870s. This was the and so-chosen "Criminal offense of '73".

The Gilded Standard Act of 1900 repealed the U.Southward. dollar's celebrated link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $xx.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated past Executive Order 6102 under Franklin D. Roosevelt, and in 1934 the standard was changed to $35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar.

Subsequently 1968 a series of revisions to the aureate peg was implemented, culminating in the Nixon Stupor of Baronial 15, 1971, which all of a sudden ended the convertibility of dollars to aureate. The U.Due south. dollar has since floated freely on the foreign exchange markets.

Federal Reserve Notes, 20th century to present [edit]

Obverse of a rare 1934 $500 Federal Reserve Notation, featuring a portrait of President William McKinley

Reverse of a $500 Federal Reserve Note

Congress continued to effect paper coin after the Civil State of war, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Human action of 1913. Since the discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United states Notes in 1971), U.South. dollar notes accept since been issued exclusively as Federal Reserve Notes.

Emergence every bit reserve currency [edit]

The U.South. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling equally it emerged from the First Earth State of war relatively unscathed and since the U.s.a. was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War, the Bretton Wood Understanding of 1944 established the U.South. dollar as the earth'south primary reserve currency and the only post-war currency linked to gold. Despite all links to gilt beingness severed in 1971, the dollar continues to be the world's foremost reserve currency for international trade to this solar day.

The Bretton Woods Understanding of 1944 besides defined the post-World War II monetary order and relations among modern-day independent states, by setting up a system of rules, institutions, and procedures to regulate the international budgetary system. The agreement founded the International monetary fund and other institutions of the modern-24-hour interval World Banking concern Group, establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar.

The monetary policy of the Us is conducted by the Federal Reserve System, which acts every bit the nation'south cardinal banking company. Information technology was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for the United states and to supervise its cyberbanking system, particularly in the aftermath of the Panic of 1907.

For almost of the post-war period, the U.S. government has financed its ain spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant residual of payments crunch has been described as the The states's exorbitant privilege.

Coins [edit]

The U.s. Mint has issued legal tender coins every year from 1792 to the present. From 1934 to the present, the only denominations produced for circulation have been the familiar penny, nickel, dime, quarter, one-half dollar, and dollar.

Denomination	Common proper name	Obverse	Opposite	Obverse portrait and design date	Contrary motif and design date	Weight	Diameter	Textile	Edge	Apportionment
Cent i¢	penny			Abraham Lincoln (1909)	Union Shield (2010)	two.5 g (0.088 oz)	0.75 in (nineteen.05 mm)	97.5% Zn covered by 2.5% Cu	Obviously	Broad
Five cents v¢	nickel			Thomas Jefferson (2006)	Monticello (1938)	5.0 g (0.176 oz)	0.835 in (21.21 mm)	75% Cu 25% Ni	Manifestly	Wide
Dime ten¢	dime			Franklin D. Roosevelt (1946)	Olive branch, torch, and oak branch (1946)	2.268 g (0.08 oz)	0.705 in (17.91 mm)	91.67% Cu eight.33% Ni	118 reeds	Wide
Quarter dollar 25¢	quarter			George Washington (1932)	Washington crossing the Delaware (2021)	5.67 g (0.ii oz)	0.955 in (24.26 mm)	91.67% Cu 8.33% Ni	119 reeds	Broad
Half dollar 50¢	half			John F. Kennedy (1964)	Presidential Seal (1964)	xi.34 g (0.4 oz)	1.205 in (30.61 mm)	91.67% Cu 8.33% Ni	150 reeds	Limited
Dollar money $1	dollar money, golden dollar			Contour of Sacagawea with her child	Diverse; new design per yr	8.10 thousand (0.286 oz)	1.043 in (26.50 mm)	88.5% Cu half dozen% Zn 3.5% Mn ii% Ni	Plain 2000-2006 Lettered 2007-Present	Limited

Gold and silver coins have been previously minted for general circulation from the 18th to the 20th centuries. The terminal aureate coins were minted in 1933. The last 90% silver coins were minted in 1964, and the last 40% argent one-half dollar was minted in 1970.

The United States Mint currently produces circulating coins at the Philadelphia and Denver Mints, and commemorative and proof coins for collectors at the San Francisco and West Point Mints. Mint marking conventions for these and for past mint branches are discussed in Coins of the The states dollar#Mint marks.

The i-dollar money has never been in popular circulation from 1794 to present, despite several attempts to increase their usage since the 1970s, the most of import reason of which is the connected production and popularity of the one-dollar beak.^[48] One-half dollar coins were ordinarily used currency since inception in 1794, but has fallen out of utilize from the mid-1960s when all silvery half dollars began to be hoarded.

The nickel is the simply coin whose size and composition (v grams, 75% copper, and 25% nickel) is nonetheless in utilise from 1865 to today, except for wartime 1942-1945 Jefferson nickels which independent silverish.

Due to the penny's depression value, some efforts have been made to eliminate the penny as circulating coinage. ^{[49] [50]}

For a word of other discontinued and canceled denominations, see Obsolete denominations of United States currency#Coinage and Canceled denominations of United States currency#Coinage.

Collector coins [edit]

Collector coins are technically legal tender at face up value but are usually worth far more due to their numismatic value or for their precious metallic content. These include:

• American Eagle bullion coins
  • American Silver Eagle $1 (i troy oz) Silvery bullion money 1986–present
  • American Golden Hawkeye $five ( 1⁄10 troy oz), $x ( i⁄4 troy oz), $25 ( 1⁄2 troy oz), and $50 (1 troy oz) Gold bullion coin 1986–present
  • American Platinum Eagle $10 ( 1⁄10 troy oz), $25 ( 1⁄4 troy oz), $50 ( 1⁄ii troy oz), and $100 (1 troy oz) Platinum bullion coin 1997–present
  • American Palladium Eagle $25 (ane troy oz) Palladium bullion money 2017–present

• United States commemorative coins—special event coins, among these:
  • $fifty.00 (Half Union) minted for the Panama-Pacific International Exposition (1915)
  • Silver proof sets minted since 1992 with dimes, quarters and one-half-dollars made of silver rather than the standard copper-nickel
  • Presidential dollar coins proof sets minted since 2007

Banknotes [edit]

Denomination	Front	Reverse	Portrait	Reverse motif	Beginning serial	Latest series	Circulation
One dollar			George Washington	Great Seal of the U.s.	Series 1963[d] Series 1935[east]	Serial 2017A[51]	Wide
Two dollars			Thomas Jefferson	Declaration of Independence by John Trumbull	Series 1976	Series 2017A	Broad
5 dollars			Abraham Lincoln	Lincoln Memorial	Series 2006	Series 2017A	Wide
10 dollars			Alexander Hamilton	U.Due south. Treasury	Serial 2004A	Series 2017A	Wide
Twenty dollars			Andrew Jackson	White Firm	Series 2004	Series 2017A	Wide
Fifty dollars			Ulysses S. Grant	U.s. Capitol	Series 2004	Series 2017A	Broad
Ane hundred dollars			Benjamin Franklin	Independence Hall	Series 2009A[52]	Series 2017A	Wide

The U.Southward. Constitution provides that Congress shall accept the power to "infringe money on the credit of the United States."^[53] Congress has exercised that power by authorizing Federal Reserve Banks to issue Federal Reserve Notes. Those notes are "obligations of the United States" and "shall be redeemed in lawful money on need at the Treasury Department of the United states, in the city of Washington, District of Columbia, or at any Federal Reserve banking concern".^[54] Federal Reserve Notes are designated by law as "legal tender" for the payment of debts.^[55] Congress has also authorized the issuance of more than 10 other types of banknotes, including the United States Note^[56] and the Federal Reserve Bank Notation. The Federal Reserve Notation is the just type that remains in circulation since the 1970s.

Federal Reserve Notes are printed past the Bureau of Engraving and Printing and are fabricated from cotton fiber fiber paper (as opposed to wood cobweb used to brand common newspaper). The "large-sized notes" issued earlier 1928 measured seven.42 in × 3.125 in (188.5 mm × 79.4 mm), while small-sized notes introduced that year measure 6.14 in × 2.61 in × 0.0043 in (155.96 mm × 66.29 mm × 0.11 mm).^[57] The dimensions of the modern (small-size) U.Southward. currency is identical to the size of Philippine peso banknotes issued under United states of america administration later 1903, which had proven highly successful.^[58] The American large-note bills became known as "equus caballus blankets" or "saddle blankets."^[59]

Currently printed denominations are $i, $2, $v, $ten, $20, $50, and $100. Notes above the $100 denomination stopped being printed in 1946 and were officially withdrawn from circulation in 1969. These notes were used primarily in inter-bank transactions or by organized crime; information technology was the latter usage that prompted President Richard Nixon to event an executive lodge in 1969 halting their utilize. With the advent of electronic banking, they became less necessary. Notes in denominations of $500, $ane,000, $5,000, $x,000, and $100,000 were all produced at i time; see large denomination bills in U.S. currency for details. With the exception of the $100,000 bill (which was only issued as a Serial 1934 Gold Certificate and was never publicly circulated; thus it is illegal to own), these notes are now collectors' items and are worth more than their confront value to collectors.

Though all the same predominantly greenish, the postal service-2004 series comprise other colors to better distinguish unlike denominations. Every bit a event of a 2008 decision in an accessibility lawsuit filed by the American Quango of the Bullheaded, the Agency of Engraving and Press is planning to implement a raised tactile feature in the adjacent redesign of each note, except the $1 and the electric current version of the $100 nib. It also plans larger, higher-contrast numerals, more color differences, and distribution of currency readers to assist the visually impaired during the transition catamenia.^[60]

Monetary policy [edit]

The Federal Reserve Act created the Federal Reserve Arrangement in 1913 every bit the central bank of the Us. Its principal task is to conduct the nation'southward monetary policy to promote maximum employment, stable prices, and moderate long-term involvement rates in the U.Southward. economy. It is also tasked to promote the stability of the financial system and regulate financial institutions, and to human activity every bit lender of last resort.^{[61] [62]}

The Monetary policy of the United States is conducted by the Federal Open Market Committee, which is composed of the Federal Reserve Lath of Governors and v out of the 12 Federal Reserve Bank presidents, and is implemented by all twelve regional Federal Reserve Banks.

Monetary policy refers to actions made by fundamental banks that determine the size and growth rate of the money supply bachelor in the economic system, and which would consequence in desired objectives like depression inflation, low unemployment, and stable financial systems. The economy'southward aggregate money supply is the total of

• M0 money, or Monetary Base - "dollars" in currency and bank money balances credited to the central bank'due south depositors, which are backed by the central banking company'due south assets,
• plus M1, M2, M3 money - "dollars" in the class of bank money balances credited to banks' depositors, which are backed by the banking concern's assets and investments.

The FOMC influences the level of money bachelor to the economy past the following means:

• Reserve requirements - specifies a required minimum per centum of deposits in a commercial banking company that should be held every bit a reserve (i.east. equally deposits with the Federal Reserve), with the rest available to loan or invest. Higher requirements mean less money loaned or invested, helping keep inflation in bank check. Raising the federal funds charge per unit earned on those reserves besides helps reach this objective.
• Open up marketplace operations - the Federal Reserve buys or sells Usa Treasury bonds and other securities held by banks in exchange for reserves; more reserves increment a bank'due south chapters to loan or invest elsewhere.
• Discount window lending - banks can borrow from the Federal Reserve.

Monetary policy straight affects interest rates; it indirectly affects stock prices, wealth, and currency exchange rates. Through these channels, budgetary policy influences spending, investment, production, employment, and inflation in the United States. Effective budgetary policy complements fiscal policy to support economical growth.

The adapted monetary base of operations has increased from approximately $400 billion in 1994, to $800 billion in 2005, and to over $three,000 billion in 2013.^[63]

When the Federal Reserve makes a purchase, it credits the seller's reserve account (with the Federal Reserve). This coin is not transferred from any existing funds—it is at this bespeak that the Federal Reserve has created new high-powered coin. Commercial banks then determine how much coin to keep in deposit with the Federal Reserve and how much to hold as concrete currency. In the latter case, the Federal Reserve places an order for printed money from the U.S. Treasury Department.^[64] The Treasury Section, in turn, sends these requests to the Bureau of Engraving and Printing (to print new dollar bills) and the Bureau of the Mint (to stamp the coins).

The Federal Reserve's monetary policy objectives to go on prices stable and unemployment depression is ofttimes called the dual mandate. This replaces past practices under a gold standard where the master business organisation is the gilt equivalent of the local currency, or under a gold commutation standard where the concern is fixing the exchange rate versus another gold-convertible currency (previously skillful worldwide under the Bretton Woods Agreement of 1944 via fixed substitution rates to the U.Southward. dollar).

International utilise as reserve currency [edit]

Worldwide use of the U.South. dollar:

 United States

 External adopters of the US dollar

 Currencies pegged to the US dollar

 Currencies pegged to the Us dollar due west/ narrow band

Worldwide utilize of the euro:

 External adopters of the euro

 Currencies pegged to the euro

 Currencies pegged to the euro w/ narrow band

Clout [edit]

The primary currency used for global merchandise between Europe, Asia, and the Americas has historically been the Spanish-American silvery dollar, which created a global argent standard organization from the 16th to 19th centuries, due to abundant silver supplies in Spanish America.^[65] The U.S. dollar itself was derived from this coin. The Castilian dollar was later displaced by the British pound sterling in the advent of the international gold standard in the last quarter of the 19th century.

The U.S. dollar began to displace the pound sterling as international reserve currency from the 1920s since it emerged from the Kickoff Earth War relatively unscathed and since the United States was a significant recipient of wartime gold inflows.^[66] Subsequently the U.Due south. emerged every bit an even stronger global superpower during the Second World War, the Bretton Wood Agreement of 1944 established the mail service-war international monetary organisation, with the U.S. dollar ascending to become the globe's primary reserve currency for international trade, and the but post-war currency linked to gold at $35 per troy ounce.^[67] Despite all links to gilded being severed in 1971, the dollar continues to play this role to this day.

As international reserve currency [edit]

The U.S. dollar is joined past the earth's other major currencies - the euro, pound sterling, Japanese yen and Chinese renminbi - in the currency basket of the special drawing rights of the International monetary fund. Cardinal banks worldwide have huge reserves of U.S. dollars in their holdings and are significant buyers of U.S. treasury bills and notes.^[68]

Foreign companies, entities, and private individuals hold U.S. dollars in strange deposit accounts called eurodollars (non to be confused with the euro), which are outside the jurisdiction of the Federal Reserve Organisation. Private individuals besides agree dollars outside the banking system mostly in the form of The states$100 bills, of which 80% of its supply is held overseas.

The United States Department of the Treasury exercises considerable oversight over the SWIFT financial transfers network,^[69] and consequently has a huge sway on the global financial transactions systems, with the power to impose sanctions on foreign entities and individuals.^[lxx]

In the global markets [edit]

The U.S. dollar is predominantly the standard currency unit in which appurtenances are quoted and traded, and with which payments are settled in, in the global commodity markets.^[71] The U.Due south. Dollar Index is an important indicator of the dollar's strength or weakness versus a handbasket of vi foreign currencies.

The United States Government is capable of borrowing trillions of dollars from the global capital markets in U.S. dollars issued by the Federal Reserve, which is itself under U.S. government purview, at minimal involvement rates, and with virtually zippo default gamble. In contrast, strange governments and corporations incapable of raising money in their own local currencies are forced to issue debt denominated in U.S. dollars, along with its consistent higher interest rates and risks of default.^[72] The United States's ability to borrow in its own currency without facing a pregnant residue of payments crisis has been frequently described as its exorbitant privilege.^[73]

A frequent topic of contend is whether the stiff dollar policy of the United States is indeed in America's own best interests, likewise as in the all-time involvement of the international community.^[74]

Currencies fixed to the U.S. dollar [edit]

For a more exhaustive discussion of countries using the U.Southward. dollar as official or customary currency, or using currencies which are pegged to the U.South. dollar, see International use of the U.S. dollar#Dollarization and fixed exchange rates and Currency substitution#The states dollar.

Countries using the U.S. dollar as its official currency include:

• In the Americas: Panama, Republic of ecuador, El Salvador, British Virgin Islands, Turks and Caicos Islands, and the Caribbean Netherlands.
• The constituent states of the former Trust Territory of the Pacific Islands: Palau, the Federated States of Micronesia, and the Republic of the marshall islands.
• Others: East Timor.

Among the countries using the U.S. dollar together with other foreign currencies and its local currency are Cambodia and Zimbabwe.

Currencies pegged to the U.Southward. dollar include:

• In the Caribbean: the Bahamian dollar, Barbadian dollar, Belize dollar, Bermudan dollar, Cayman Islands dollar, East Caribbean area dollar, Netherlands Antillean guilder and the Aruban florin.
• The currencies of the oil-producing Arab countries: the Saudi riyal, United Arab Emirates dirham, Omani rial, Qatari riyal and the Bahraini dinar.
• Others: the Hong Kong dollar, Macanese pataca, Lebanese Pound .

Value [edit]

Buying ability of one U.S. dollar compared to 1775 Spanish milled dollar

Year  Equivalent  buying ability 1775  $ane.00 1780  $0.59 1790  $0.89 1800  $0.64 1810  $0.66 1820  $0.69 1830  $0.88 1840  $0.94 1850  $1.03 1860  $0.97

Yr  Equivalent  buying ability 1870  $0.62 1880  $0.79 1890  $0.89 1900  $0.96 1910  $0.85 1920  $0.39 1930  $0.47 1940  $0.56 1950  $0.33 1960  $0.26

Year  Equivalent  buying ability 1970  $0.xx 1980  $0.10 1990  $0.06 2000  $0.05 2007  $0.04 2008  $0.04 2009  $0.04 2010  $0.035 2011  $0.034 2012  $0.03

U.S. Consumer Cost Index, starting from 1913

The 6th paragraph of Section 8 of Article ane of the U.S. Constitution provides that the U.S. Congress shall accept the power to "coin money" and to "regulate the value" of domestic and strange coins. Congress exercised those powers when information technology enacted the Coinage Human activity of 1792. That Act provided for the minting of the outset U.S. dollar and information technology alleged that the U.S. dollar shall have "the value of a Spanish milled dollar every bit the same is now current".^[75]

The table to a higher place shows the equivalent corporeality of goods that, in a detail twelvemonth, could exist purchased with $1. The table shows that from 1774 through 2012 the U.S. dollar has lost about 97.0% of its ownership power.^[76]

The decline in the value of the U.Due south. dollar corresponds to price inflation, which is a ascent in the general level of prices of goods and services in an economy over a menstruation of time.^[77] A consumer price index (CPI) is a mensurate estimating the boilerplate toll of consumer goods and services purchased by households. The United States Consumer Price Alphabetize, published past the Bureau of Labor Statistics, is a measure out estimating the boilerplate price of consumer goods and services in the U.s.a..^[78] Information technology reflects inflation as experienced past consumers in their day-to-twenty-four hours living expenses.^[79] A graph showing the U.S. CPI relative to 1982–1984 and the annual year-over-twelvemonth change in CPI is shown at right.

The value of the U.S. dollar declined significantly during wartime, specially during the American Civil War, World State of war I, and Earth War Two.^[80] The Federal Reserve, which was established in 1913, was designed to furnish an "rubberband" currency subject to "substantial changes of quantity over short periods", which differed significantly from previous forms of high-powered money such every bit gold, national banknotes, and silver coins.^[81] Over the very long run, the prior gold standard kept prices stable—for example, the cost level and the value of the U.Southward. dollar in 1914 were not very different from the price level in the 1880s. The Federal Reserve initially succeeded in maintaining the value of the U.South. dollar and price stability, reversing the inflation caused by the Get-go World War and stabilizing the value of the dollar during the 1920s, before presiding over a 30% deflation in U.S. prices in the 1930s.^[82]

Nether the Bretton Woods system established after World State of war II, the value of gold was fixed to $35 per ounce, and the value of the U.South. dollar was thus anchored to the value of gilt. Ascent government spending in the 1960s, still, led to doubts near the ability of the U.s.a. to maintain this convertibility, gilded stocks dwindled as banks and international investors began to catechumen dollars to gold, and as a effect, the value of the dollar began to reject. Facing an emerging currency crisis and the imminent danger that the Us would no longer exist able to redeem dollars for gold, gold convertibility was finally terminated in 1971 by President Nixon, resulting in the "Nixon shock".^[83]

The value of the U.S. dollar was therefore no longer anchored to gold, and it fell upon the Federal Reserve to maintain the value of the U.S. currency. The Federal Reserve, however, connected to increase the coin supply, resulting in stagflation and a rapidly failing value of the U.Due south. dollar in the 1970s. This was largely due to the prevailing economic view at the fourth dimension that inflation and real economic growth were linked (the Phillips curve), and then inflation was regarded as relatively benign.^[83] Between 1965 and 1981, the U.S. dollar lost two thirds of its value.^[76]

In 1979, President Carter appointed Paul Volcker Chairman of the Federal Reserve. The Federal Reserve tightened the money supply and inflation was substantially lower in the 1980s, and hence the value of the U.S. dollar stabilized.^[83]

Over the thirty-year period from 1981 to 2009, the U.S. dollar lost over half its value.^[76] This is because the Federal Reserve has targeted not zero aggrandizement, just a low, stable rate of aggrandizement—between 1987 and 1997, the rate of aggrandizement was approximately 3.five%, and between 1997 and 2007 it was approximately 2%. The so-called "Great Moderation" of economical weather condition since the 1970s is credited to monetary policy targeting price stability.^[84]

There is an ongoing debate well-nigh whether central banks should target zero inflation (which would hateful a constant value for the U.S. dollar over time) or low, stable inflation (which would mean a continuously only slowly declining value of the dollar over fourth dimension, every bit is the case at present). Although some economists are in favor of a nothing inflation policy and therefore a constant value for the U.S. dollar,^[82] others debate that such a policy limits the power of the central banking company to control interest rates and stimulate the economy when needed.^[85]

Exchange rates [edit]

Historical exchange rates [edit]

Currency units per one U.Southward. dollar, averaged over the twelvemonth^{[86] [87] [88]}

Currency units	1970[i]	1980[i]	1985[i]	1990[i]	1993	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2018[89]
Euro	—	—	—	—	—	0.9387	one.0832	i.1171	ane.0578	0.8833	0.8040	0.8033	0.7960	0.7293	0.6791	0.7176	0.6739	0.7178	0.7777	0.7530	0.7520	0.9015	0.8504
Japanese yen	357.half-dozen	240.45	250.35	146.25	111.08	113.73	107.80	121.57	125.22	115.94	108.15	110.11	116.31	117.76	103.39	93.68	87.78	79.70	79.82	97.sixty	105.74	121.05	111.130
Pound sterling	8s 4d =0.4167	0.4484[two]	0.8613[ii]	0.6207	0.6660	0.6184	0.6598	0.6946	0.6656	0.6117	0.5456	0.5493	0.5425	0.4995	0.5392	0.6385	0.4548	0.6233	0.6308	0.6393	0.6066	0.6544	0.7454
Swiss franc	4.12	1.68	two.46[90]	1.39	1.48	i.l	one.69	1.69	1.62	1.40	one.24	ane.15	1.29	1.23	one.12	1.08	1.03	0.93	0.93	0.90	0.92	1.00	0.98
Canadian dollar[91]	1.081	1.168	1.321	one.1605	i.2902	1.4858	1.4855	1.5487	1.5704	1.4008	ane.3017	1.2115	1.1340	1.0734	one.0660	i.1412	ane.0298	0.9887	0.9995	1.0300	1.1043	1.2789	1.2842
Mexican peso[92]	0.01250–0.02650[iii]	two.eighty[3]	two.67[iii]	ii.50[iii]	3.1237	9.553	9.459	nine.337	9.663	10.793	eleven.290	10.894	x.906	x.928	xi.143	13.498	12.623	12.427	13.154	12.758	xiii.302	15.837	19.911
Chinese Renminbi[93]	2.46	1.7050	2.9366	4.7832	v.7620	8.2783	8.2784	8.2770	8.2771	8.2772	8.2768	eight.1936	7.9723	seven.6058	6.9477	half dozen.8307	6.7696	half dozen.4630	6.3093	6.1478	6.1620	6.2840	6.383
Pakistani rupee	four.761	9.9	15.9284	21.707	28.107	51.9	51.ix	63.v	sixty.v	57.75	57.eight	59.7	60.iv	lx.83	67	80.45	85.75	88.six	ninety.7	105.477	100.661	104.763	139.850
Indian rupee	vii.56	8.000	12.38	16.96	31.291	43.xiii	45.00	47.22	48.63	46.59	45.26	44.00	45.xix	41.18	43.39	48.33	45.65	46.58	53.37	58.51	62.00	64.1332	68.11
Singapore dollar	—	—	ii.179	ane.903	i.6158	1.6951	ane.7361	one.7930	i.7908	1.7429	1.6902	1.6639	1.5882	1.5065	i.4140	i.4543	1.24586	1.2565	1.2492	1.2511	1.2665	1.3748	ane.343

Current commutation rates [edit]

Current USD substitution rates
From Google Finance:	AUD CAD CHF CNY EUR GBP HKD JPY MXN TWD KRW
From Yahoo! Finance:	AUD CAD CHF CNY EUR GBP HKD JPY MXN TWD KRW
From XE.com:	AUD CAD CHF CNY EUR GBP HKD JPY MXN TWD KRW
From OANDA:	AUD CAD CHF CNY EUR GBP HKD JPY MXN TWD KRW

See likewise [edit]

• Apocryphal United States currency
• Dedollarisation
• International use of the U.South. dollar
• List of the largest trading partners of the United States
• Monetary policy of the United States
• Petrodollar recycling
• Strong dollar policy
• U.S. Dollar Index

Notes [edit]

1. ^ Alongside East Timor centavo coins
2. ^ Aslope Ecuadorian centavo coins
3. ^ Aslope Bitcoin
4. ^ Obverse
5. ^ Reverse

1. ^ ^{a b c d} Mexican peso values prior to 1993 revaluation
2. ^ ^{a b} 1970–1992. 1980 derived from AUD–USD=i.1055 and AUD–GBP=0.4957 at terminate of Dec 1979: 0.4957/1.1055=0.448394392; 1985 derived from AUD–USD=0.8278 and AUD–GBP=0.7130 at end of December 1984: 0.7130/0.8278=0.861319159.
3. ^ ^{a b c d} Value at the start of the yr

References [edit]

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3. ^ Nagumo, Jada (Baronial 4, 2021). "Cambodia aims to wean off US dollar dependence with digital currency". Nikkei Asia. Retrieved Apr xi, 2022. Cambodia runs a dual-currency system, with the U.S. dollar widely circulating in its economic system. The country's dollarization began in the 1980s and 90s, following years of ceremonious war and unrest.
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13. ^ ^{a b c} Denominations, specifications, and blueprint of coins. 31 United states of americaC. § 5112.
14. ^ U.S. Constitution, Article 1, Section 9. para. 7.
15. ^ Reports. 31 United statesC. § 331.
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26. ^ In that location'south no solid reference on the desirability of liondollars in North America and on 1:ane parity with heavier dollars. A dollar worth $0.80 Spanish is not cheap if priced at $0.l http://coins.lakdiva.org/netherlands/1644_wes_lion_daalder_ag.html https://coins.nd.edu/ColCoin/ColCoinIntros/Lion-Dollar.intro.html
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91. ^ 1977–1991
92. ^ 1976–1991
93. ^ 1974–1991, 1993–1995

Further reading [edit]

• Prasad, Eswar Southward. (2014). The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance. Princeton, NJ: Princeton University Press. ISBN978-0-691-16112-9.

External links [edit]

• U.S. Bureau of Engraving and Printing Archived May thirty, 1997, at the Wayback Automobile
• U.S. Currency and Coin Outstanding and in Circulation
• American Currency Exhibit at the San Francisco Federal Reserve Bank
• Relative values of the U.Due south. dollar, from 1774 to nowadays
• Historical Currency Converter
• Summary of BEP Production Statistics

Images of U.Southward. currency and coins [edit]

• U.S. Currency Educational activity Plan page with images of all electric current banknotes
• U.S. Mint: Epitome Library
• Historical and current banknotes of the U.s.a. (in English and German)

johnsonshre1956.blogspot.com

Source: https://en.wikipedia.org/wiki/United_States_dollar

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