Title: International use of the U.S. dollar - Wikipedia
Headings: International use of the U.S. dollar
International use of the U.S. dollar
Contents
International reserve currency
U.S. Dollar Index
Dollarization and fixed exchange rates
Dollar versus Euro
Chinese-issued U.S. dollar bonds
See also
References

Content: ICE
The Index is described by the ICE as "a geometrically-averaged calculation of six currencies weighted against the U.S. dollar." The baseline of 100.00 on the USDX was set at its launch in March 1973. This event marks the watershed between the wider margins arrangement of the Smithsonian regime and the period of generalized floating that led up to the Second Amendment of the Articles of Agreement of the International Monetary Fund. Since 1973, the USDX has climbed as high as the 160s and drifted as low as the 70s. The USDX has not been updated to reflect new trading realities in the global economy, where the bulk of trade has shifted strongly towards new partners like China and Mexico and oil-exporting countries while the United States has de-industrialized . Dollarization and fixed exchange rates
Main article: Dollarization
Other nations besides the United States use the U.S. dollar as their official currency, a process known as official dollarization. For instance, Panama has been using the dollar alongside the Panamanian balboa as the legal tender since 1904 at a conversion rate of 1:1. Ecuador (2000), El Salvador (2001), and East Timor (2000) all adopted the currency independently. The former members of the U.S.-administered Trust Territory of the Pacific Islands, which included Palau, the Federated States of Micronesia, and the Marshall Islands, chose not to issue their own currency after becoming independent, having all used the U.S. dollar since 1944.