dollar is also the reserve currency of several countries, which means that it is held by central banks and financial institutions for trade purposes. dollar plays a major role in the worldwide economy and is accepted in cities around the world as a primary or secondary currency. It is one of the most widely circulated and respected currencies in the world. dollar if you hear the word “dollar” in any conversation. In this post we’ll be highlighting the countries that use dollars, taking a look at currencies pegged to the dollar and exploring how the dollar functions as a worldwide currency. On any exchange rate board right next to the British Pound, the Euro, the Japanese Yen and the Indian Rupee, you are likely to see the instantly recognizable US dollar symbol ($).īut how is the dollar used outside of the United States? How many countries have a currency that is named after the dollar? And what does it mean to have your currency pegged to the U.S. dollar is one of the strongest and most significant currencies in the world.
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