Investor Glossary-us dollarInvestor Glossary-us dollarInvestor Glossary-us dollarInvestor Glossary-us dollarInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

US Dollar

The HTML to link to this page
 

The US dollar is the currency of the United States of America. USD is the currency code for the US dollar. $ is the symbol for the US Dollar. The US dollar originated with the Coinage Act of 1792. At its inception, the US dollar was pegged to silver and gold. In 1900, the Gold Standard Act was passed and as a result the US dollar began to be pegged to gold alone. The gold standard was suspended temporarily in 1933 when President Franklin D. Roosevelt (FDR) issued various executive orders (i.e. Executive Order 6102 of April 3, 1933 aka "the gold confiscation order") and passed several acts with Congress (i.e. Gold Reserve Act of 1934) in an effort to deal with the significant deflation caused by the great depression. Finally, in 1971, in an effort to deal with rampant inflation, the Nixon administration decided to limit how dollars could be exchanged for gold. This was the beginning of the end for the gold standard and in 1975, the US dollar became a free floating currency. The Federal Reserve Bank, the central bank of the USA, distributes the US dollar. The US dollar is considered the most important international trade currency. The US dollar is also one of the major currencies trading on foreign exchange (Forex) markets. Additionally, the US dollar is used as the major reserve currency of the world. The US dollar is nicknamed buck and greenback.



Rate this US Dollar definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: in escrow, balance sheet, current ratio, implied volatility, ex-dividend, APR, open position, reverse mortgage, deferred revenue, real GDP, wholly-owned subsidiary, inflation, Zero Cost Collar, Key Rate Duration, average price per share, VIX, limit order, labor relations, command economy, quality assurance, LIBOR, debt service coverage, FTSE, phantom income, 1031 exchange, ex-dividend date, per diem, stock split, stock market close, minority interest, cancelled check, covered put, dividends payable, 1035 exchange, class C shares, diluted share, required rate of return, margin rate, retained earnings, EBITDA, FICO score, 144a, deferred tax, risk management, option premium, annual return, 401a, irrevocable trust, liquidity ratio


Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
Investor Glossary Index >>> # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
©2004-2014 Investor Glossary - All rights reserved - Terms of Use