Why is the dollar a popular currency?

      The dollar is something we are all familiar with, although the currency is not circulated for common use in our country. It is perhaps the US dollar that we have most heard of. But how many of us are aware of the fact that the currency is used in over twenty countries in the world?

      Well, the countries include Canada, Hong Kong, Namibia, New Zealand, Ecuador, Singapore, Taiwan, Zimbabwe, Jamaica, Fiji etc., but their values and histories differ from country to country.

       It was in 1792 that the US accepted the dollar as its legal tender. The term ‘dollar’ has been derived from ‘thaler’, a silver coin used throughout the European continent for centuries.

        Today, the dollar is one of the most important global currencies for its trade value and wide range of circulation. Do you know that it is the US dollar that acts as the unofficial global reserve currency in nearly every central bank? Well, it is!