Title: Countries That Use The U.S. Dollar
Headings: Countries That Use The U.S. Dollar
Countries That Use The U.S. Dollar
Key Takeaways
Official Use of the U.S. Dollar
Quasi-Use of the U.S. Dollar
The Bottom Line

Content: While its strength as a powerhouse may not be a shock, it may come as a surprise that the dollar is also the official currency of a host of U.S. territories and other sovereign nations around the world. It's also the quasi-official currency of many other nations that commonly accept U.S. dollars in addition to their own local currency. If you're an avid traveler, someone who does business overseas, or an ex-pat, you'll want to keep reading. We've compiled a comprehensive list of places around the world that use the greenback as an official currency. Key Takeaways
Five U.S. territories and seven sovereign nations use the U.S. dollar as their official currency. The British Virgin Islands and the British Turks and Caicos Islands also use the U.S. dollar as their official currency of exchange. The U.S. dollar is also used in conjunction with local currencies in a number of different popular destinations for American tourists. Official Use of the U.S. Dollar
The world's first U.S. dollar was printed in 1914 after the Federal Reserve Bank was created. It became the world's reserve currency after the negotiation of the Bretton Woods Agreement in 1944 when it was decided that the world's central banks would use fixed exchange rates between the U.S. dollar and their own currencies. According to the Federal Reserve Bank of New York, more than half of the U.S. dollars printed are used outside the United States—as much as 65%—to the tune of $580 billion, with the majority being exchanged in countries in Latin America and the former Soviet Union.