American Dollar - US Dollar

The US dollar or American dollar is the national currency in the United States, but also in Ecuador, in Micronesia, in the Marshall Islands; in Palau, in Salvador, in East Timor and in the British Virgin Islands.

The American dollar became the United States national currency in 1792 thanks to the « Mint Act » of April 2, 1792 which established a monetary system with the dollar as a benchmark currency.

In 1793, the first American coins were minted in Philadelphia. But it was only with the law of July 17, 1861 when the American dollar began to issue its first banknotes.

The dollar is the most used currency in the world for transactions, and since December 2006 it is second after the Euro in terms of currency in circulation.

What is the American dollar?

• It is the most dealt currency on the exchange market; it represents 89% of the transactions.

• It is the most used currency in International trade.

• It is the main reserve currency in the world.

• It is the currency that has more important financial markets.

At the heart of the green banknote...

About the American deficit, Milton Friedman said: «Our deficit is made out in dollars. Not in Francs nor in Pounds. So we don’t owe anything. Printing money is enough. » Le Monde 11/03/1988.

At the beginning of the 1970s, John Co nnally, secretary for the American Treasury ironically said, but with good reasons, that “the dollar is our currency, but it is your problem.”