AMERICA dollar (sign: $; code: USD; also abbreviated US$ and known as the dollar, U.S. dollar, or American dollar) is the state currency of america and its own insular territories per america Constitution. For some practical purposes, it is split into 100 smaller cent (?) units, but officially it could be split into 1000 mills (?). The circulating paper money involves Federal Reserve Notes that are denominated in USA dollars (12 U.S.C. ? 418).
Because the suspension in 1971 of convertibility of paper U.S. currency into any important metal, the U.S. dollar is, de facto, fiat money. Since it is the most found in international transactions, the U.S. dollar is the world’s primary reserve currency. Several countries put it to use as their official currency, and in numerous others it’s the de facto currency. Aside from the United States, additionally it is used as the only real currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. Some countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins (like the Susan B. Anthony dollar). By July 12, 2017, there is approximately $1.56 trillion in circulation, which $1.52 trillion is at Federal Reserve notes (the rest of the $40 billion is by means of coins).
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