Forex trading

American dollar The American dollar is the legitimate currency of the United States and several other countries around the world. In 1792, the United States adopted the American dollar as their national currency. Since the Second World War, the dollar is counted as the anchor currency in international trade, causing gold and oil prices to be in dollars nowadays.

Unfortunately, the American dollar lost most of its status as key currency in 2002. As a result, the European currency has become a bigger competitor since then. But not only the euro is seen as a key currency, also the Chinese renminbi is expected to be able to fulfil this position. In March 2009, the governor of the People’s Bank of China proposed to replace the dollar as reserve currency with a “basket” of other currencies. However, in June 2009 Kudrin, the finance minister of Russia, declared that the position of the American dollar as reserve currency was unquestionable.

Other countries and areas that use this currency are:

*British Territory in the Indian Ocean (United Kingdom)
*British Virgin Islands (United Kingdom)
*Ecuador
*El Salvador
*Marshall Islands
*Micronesia
*East Timor
*Palau
*Turks and Caicos Islands (United Kingdom)