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USD

Written by ForexCult Team
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USD The symbol USD stands for United State Dollar. The actual dollar is known as the currency when it comes to the United States. You will find that the USD or United States dollar is often found to be abbreviated as the actual dollar sign. However there is sometimes when you will find that the USD is symbolized by the US$ instead so that it can be actually distinguished from the other countries that also use the dollar. The actual USD is known to be divided into what is known as a makeup of one hundred cents. On July sixth of the year seventeen eight five, the USD was adopted by the Congress of the actual confederation of the country the United States and is known to be the currency that is mostly use when it comes to international transactions. There are many nicknames when it comes to the USD, you will find that the USD is often referred to as the colloquialism buck which was often used to actually refer to the different dollars of the different nations which includes the USD. The term colloquialism buck is known to date all the way back to the eighteenth century and is known that it may have originated with the fur trades that took place in the colonial times. Nicknames of the USD There is also another nickname that is known as the greenback that is associated with the USD. In fact, it is known that this term came to past in the nineteenth century when the demand note dollars were actually created by the President Abraham Lincoln so that he could finance the actual costs that were behind the Civil War that took place for the North. The first USD note was known to be black and green on the back side of the bill and it is still known to be used to actually refer to the USD and not so much for the dollars of the other countries that use the dollar as a currency as well. You may find that other nicknames when it comes to the USD consist of smackers or smackeroos and there are times when the USD is referred to as the last name of the President that is located on that certain bill. You may also hear of other names that are related to the USD, because there have been many nicknames that have developed over the years and that are still being used today. So if you are interested in the nicknames of the USD, all you have to do is get online and take a look at them. The USD and Dollarization There are many nations of than the United States that use the USD as their official currency as well and this is known as a process that is referred to as dollarization. Since the year of nineteen and four Panama has actually been using the USD aside of the Panamanian Balboa as the actual legal tender with a known rate of one to one. Later, Ecuador in the year two thousand, El Salvador in the year two thousand and one and then East Timor as well in the year of two thousand took the time o also adopt the USD currency all on there own independently. Since the year of nineteen forty four, the actual former member of what is known as the United States administered Trust Territory of the actual Pacific Islands which are known to include the Palau as well as the Marshall Islands and the Federated States of Micronesia took the time to chose that they were not going to issue their own currency after they became independent, they have used the USD every since. There are also two British dependencies that have also being using the USD, they are known as the British Virgin Islands as well as the Turks as well as the Caicos Islands. The British Virgin Islands have been using the USD since nineteen fifty nine and the Turks and Caicos Islands have been using the USD since nineteen seventy three. There have also been other countries that have took the time to link their currencies tot eh USD at what is known as a fixed exchange rate. If you want to learn more about USD and you feel as if you have not got a solid foundation of USD from this article, you can go online and search for USD and there will be several sites that will be able to tell you what you need to know about USD. There is a lot of USD information out there; all you have to do is take the time to look for it. Since the USD is so common I would recommend that you learn about the USD if you are interested in trading in the forex market. Overall, have fun learning about USD.

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Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

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In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

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