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» Personal Loan No Credit Check, Online Economics » Currency » Topics begins with U » US Dollar


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The US Dollar (USD, symbol: $) is the national currency of the United States. A dollar is divided into 100 US cent (symbol: It was introduced also of some other states than currency, so on the British young remote islands, in Ecuador (under violent protests of the population), into Mikronesien as well as on Palau and Osttimor. Colloquially it is called due to its color Greenback.

Covering

Originally existed gold dollar as gold rotating currency, for example the 10-dollar gold coin.

From 1934 on the US Dollar was covered by gold. With the United States guaranteed exchanging at any time 35 US Dollar against an ounce Feingold. This warranty was renewed 1944 by the agreement by Bretton Woods. To 17. Seven issuing banks of Europe waived and exchanged March 1969 after conference of lightning with the United States this warranty no US Dollar more in gold. Already 1960 exceeded the US Dollar supplies in Europe and Japan the American gold reserves. On 15 August 1971 finally one announced, the Nixon government had seized unusual measures, in order protected the American economy too "", as the president on one side waived the possibility of exchanging the dollar in gold. Afterwards the dollar lost on the gold based within three years so strongly at value, until it was worth only a fifth of its original value in gold. Today it is like all other paper currencies an uncovered and thus only currency which is based on confidence. The US Dollar reached the past historical Tiefststand on 18 April 1995 with 1,3420 DM; that corresponds converted to a euro-course of 1.4574 dollar.

International meaning

At the latest since the Second World War the US Dollar is considered as world-wide key currency. It is as transaction and reserve medium the world-wide most common currency. In some states of the world the US Dollar is unofficial second or In many other states one in business or hotel with US Dollar can pay, without having to exchange into the national currency. The high meaning of the US Dollar might therefore agitate also that many raw materials at the world market, in particular oil, in this currency are acted. (see also Petrodollar)

Role as reserve currency

The portion of the US Dollar of the world-wide currency reserves sank in the last years noticeably, while the euro-portion increased clearly at the same time. Generally with a further decrease of the meaning of the US Dollar than world reserve currency as well as of a rising importance of the euro one goes out.

Since there is world-wide several hundred billion US Dollar, to compute which are hoarded in notes as reserve (Kopfpolster in such a way specified), are the US issuing bank in the situation to offer these sums as credits (as electronic money) on the open world market and the interest for it, what makes it possible enormous Seigniorage incomes. A meaning loss of the US Dollar as world-wide currency reserve means then for the US issuing bank an income decrease.

Role as

The US Dollar has today the most important portion of international financial transactions. After the Second World War it replaced the British Pound to a large extent as leading currency at (financial) the markets. An entrance of the united kingdom and thus the secondarymost important London would nevertheless weaken the position of the dollar for European community currency euro as key currency clearly.

In the year 2003 the portion of the US Dollar transactions of the foreign exchange markets amounted to 50 per cent in relation to 25 per cent in euro and 10 per cent each in Pound of Sterling and Japanese Yen.

Design

A characteristic on the front of in dollar note is a very small owl, which is left above the upper right unity. The back of the note shows the two sides of the seal of the United States.

Dollar notes

  • $1: George Washington
  • $2: Thomas Jefferson
  • $5: Abraham Lincoln
  • $10: Alexander Hamilton
  • $20: Andrew Jackson
  • $50: Ulysses S. Grant
  • $100: Benjamin Franklin

Since 1969 no more spent, but further valid and in the circulation present:

  • $500: William McKinley
  • $1.000: Grover Cleveland
  • $5.000: James Madison
  • $10.000: Salmon P. Chase

Not present in the circulation:

  • $100.000: Woodrow Wilson

The large cash notes were used only for money transfers between American federal reserves.

Serial numbers of the dollar notes

The serial numbers of dollar lights consist 8 numbers of 2 letters, then, afterwards letter. So a serial number could look:

DL82674476A

D: The first letter indicates the series of the light, e.g. a D indicates that this light originates from the series of 2003. In the case of a change of the Design of a note a new series is given up, this change can mean also only a change of the signature on the light. About every 1-2 years a new series is begun.

L: The second letter indicates, which bank gave the light in order. There are altogether 12 of such central banks, and in Dallas, TX carries the letter L.

82674476: Sequential number. Since always 6.4 million notes are only printed, and on it-marked then the serial numbers, this number goes not to 99999999, but to 96000000 with the 1ern to 20ern, and to 99200000 with the 50ern and 100ern.

A: This letter continues to count always around 1, if the sequential number reached its maximum, and again with 00000001 begins. Since the letters O and Z are omitted, there are 24 combinations.

Thus can each central bank up to 2.4 billion lights per series and Notenwert print. Since there are 12 central banks and 7 different Notenwerte, the maximum number of notes per series is limited to 201.6 billion lights. Multiplied by that presumably 25 different letters, which indicate the series, the system has an overall capacity of 5.04 trillion lights. To the comparison: With the current numbering system for Eurobank notes there are 475 billion combinations.

Coins

In the United States common coins:

  • 1 cent ("penny")
  • 5 cents ("nickel")
  • 10 cents ("Dime")
  • 25 cents ("Quarter")
  • 50 cents ("helped", very rarely)
  • 1 dollar ("Buck", only starting from 2000 again imported)

Between 1793 and 1857 also half cent coins were coined/shaped.

Front of in dollar coinBack of in dollar coinother expenditure of the front of in dollar coinother expenditure of the back of in dollar coin
50 cents ("helped dollar")25 cents ("Quarter")10 cents ("Dime")1 cent ("penny")

Literature

See also

  • Dollar
  • Seal of the United States
  • Federal reserve system
  • Dollar imperialism
  • List of currencies
  • Portal: Economics
  • Petrodollar
  • Eagle (coin)
  • Gold Eagles
  • Silver Eagle
  • Platinum Eagle

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