Title: USD - US Dollar rates, news, and tools | Xe
Headings: USD - US Dollar
USD - US Dollar
US Dollar Stats
US Dollar Profile
Live Currency Rates
Central Bank Rates

Content: Additionally, the Dollar is used as the standard currency in the commodity market and therefore has a direct impact on commodity prices. Dollarization of the USD
Due to its international acceptance, some countries like Panama and Ecuador use the USD as an official legal tender, a practice known as dollarization. For other countries the Dollar is an accepted alternative form of payment, though not an official currency for the country. Multiple currencies are pegged to the US Dollar: Country
Peg Rate
Aruban or Dutch Guilder
1.79000
Bahamian Dollar
1.00000
Bahraini Dinar
0.37690
Barbadian Dollar
2.00000
Belizean Dollar
2.00000
Bermudian Dollar
1.00000
Cayman Island Dollar
0.82000
Cuban Convertible Peso
1.00000
Djiboutian Franc
177.721
Dutch Guilder
1.79000
East Caribbean Dollar
2.70000
Eritrean Nakfa
15.0000
Hong Kong Dollar
7.80000
Jordanian Dinar
0.70900
Lebanese Pound
1507.50
Omani Rial
0.38450
Panamanian Balboa
1.00000
Qatari Riyal
3.64000
Saudi Arabian Riyal
3.75000
United Arab Emirati Dirham
3.67250
Venezuelan Bolivar
6.30000
Introduction of the US Dollar
In 1785, the Dollar was officially adopted as the money unit of the United States. The Coinage Act of 1792 created the first U.S. Mint and established the federal monetary system, as well as set denominations for coins specified by their value in gold, silver, and copper. In 1861, the U.S. Treasury issued non-interest-bearing Demand Bills and the very first $10 Demand Bills, featuring Abraham Lincoln, went into circulation. These bills quickly earned the nickname 'Greenbacks' because of their color. In 1863, a national banking system was established and guidelines for national banks were created. These banks were authorized to issue national currency secured by the purchase of US bonds.