United States dollar
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The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color.The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank.
The U.S. dollar was originally defined under a bimetallic standard of 371.25 gr (0.7735 troy ounces) fine silver or, from 1837, 23.22 gr fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 per troy ounce. Since 1971, all links to gold have been repealed.
The U.S. dollar became an important international reserve currency after the First World War, and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War. The dollar is the most widely used currency in international transactions, and a free-floating currency. It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in a few cases, U.S. coins) used in circulation.
As of February 10, 2021, currency in circulation amounted to US$2.10 trillion, US$2.05 trillion of which is in Federal Reserve Notes (the remaining US$50 billion is in the form of coins and older-style United States Notes).
Country
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British Indian Ocean Territory
The only inhabitants are British and United States military personnel, and associated contractors, who collectively number around 3,000 (2018 figures). The forced removal of Chagossians from the Chagos Archipelago occurred between 1968 and 1973. The Chagossians, then numbering about 2,000 people, were expelled by the UK government to Mauritius and Seychelles in order to construct the military base. Today, the exiled Chagossians are still trying to return, saying that the forced expulsion and dispossession was unlawful, but the UK government has repeatedly denied them the right of return. The islands are off-limits to Chagossians, tourists, and the media. -
Barbados
Inhabited by Kalinago people since the 13th century, and prior to that by other Amerindians, Spanish navigators took possession of Barbados in the late 15th century, claiming it for the Crown of Castile. It first appeared on a Spanish map in 1511. The Portuguese Empire claimed the island between 1532 and 1536, but abandoned it in 1620 with their only remnants being an introduction of wild boars for a good supply of meat whenever the island was visited. An English ship, the Olive Blossom, arrived in Barbados on 14 May 1625; its men took possession of the island in the name of King James I. In 1627, the first permanent settlers arrived from England, and Barbados became an English and later British colony. During this period, the colony operated on a plantation economy, relying on the labour of African slaves who worked on the island's plantations. Slavery continued until it was phased out through most of the British Empire by the Slavery Abolition Act 1833. -
Bermuda
Bermuda is named after Spanish explorer Juan de Bermúdez, who discovered the archipelago in 1505. The islands have been permanently inhabited since 1612, and, forming part of British America, became a crown colony in 1684. The first African slaves arrived in 1616, but as the slave trade ceased by the end of the 17th century, the colony developed into a base for merchants, privateers, and the Royal Navy. More recently, tourism has been a significant contributor to Bermuda's economy. After World War II the territory became an offshore financial centre and tax haven. -
British Virgin Islands
The British Virgin Islands consist of the main islands of Tortola, Virgin Gorda, Anegada and Jost Van Dyke, along with more than 50 other smaller islands and cays. About 16 of the islands are inhabited. The capital, Road Town, is on Tortola, the largest island, which is about 20 km long and 5 km wide. The islands had a population of 28,054 at the 2010 Census, of whom 23,491 lived on Tortola; current estimates put the population at 35,802 (July 2018). -
Caribbean Netherlands
Bonaire (including the islet of Klein Bonaire) is one of the Leeward Antilles and is located close to the coast of Venezuela. Sint Eustatius and Saba are in the main Lesser Antilles group and are located south of Sint Maarten and northwest of Saint Kitts and Nevis. The Caribbean Netherlands has a population of 25,157 as of January 2019. -
El Salvador
Among the Mesoamerican nations that historically controlled the region are the Lenca (after 600 AD), the Mayans, and then the Cuzcatlecs. Archaeological monuments also suggest an early Olmec presence around the first millennium BC. In the beginning of the 16th century, the Spanish Empire conquered the Central American territory, incorporating it into the Viceroyalty of New Spain ruled from Mexico City. However the Viceroyalty of New Spain had little to no influence in the daily affairs of the isthmus, which was colonized in 1524. In 1609, the area was declared the Captaincy General of Guatemala by the Spanish, which included the territory that would become El Salvador until its independence from Spain in 1821. It was forcibly incorporated into the First Mexican Empire, then seceded, joining the Federal Republic of Central America in 1823. When the federation dissolved in 1841, El Salvador became a sovereign state, then formed a short-lived union with Honduras and Nicaragua called the Greater Republic of Central America, which lasted from 1895 to 1898. -
Haiti
The island was originally inhabited by the indigenous Taíno people, who originated in South America. The first Europeans arrived on 5 December 1492 during the first voyage of Christopher Columbus, who initially believed he had found India or China. Columbus subsequently founded the first European settlement in the Americas, La Navidad, on what is now the northeastern coast of Haiti. The island was claimed by Spain and named La Española, forming part of the Spanish Empire until the early 17th century. However, competing claims and settlements by the French led to the western portion of the island being ceded to France in 1697, which was subsequently named Saint-Domingue. French colonists established lucrative sugarcane plantations, worked by vast numbers of slaves brought from Africa, which made the colony one of the richest in the world. -
Panama
Panama was inhabited by indigenous tribes before Spanish colonists arrived in the 16th century. It broke away from Spain in 1821 and joined the Republic of Gran Colombia, a union of Nueva Granada, Ecuador, and Venezuela. After Gran Colombia dissolved in 1831, Panama and Nueva Granada eventually became the Republic of Colombia. With the backing of the United States, Panama seceded from Colombia in 1903, allowing the construction of the Panama Canal to be completed by the United States Army Corps of Engineers between 1904 and 1914. The 1977 Torrijos–Carter Treaties agreed to transfer the canal from the United States to Panama on December 31, 1999. The surrounding territory was first returned in 1979. -
Turks and Caicos Islands
The islands are southeast of Mayaguana in the Bahamas island chain and north of the island of Hispaniola (Haiti and the Dominican Republic). Grand Turk (Cockburn Town), the capital since 1766, is situated on Grand Turk Island about 1042 km east-southeast of Miami, United States. They have a total land area of 430 km2. -
United States
Indigenous peoples have inhabited the Americas for thousands of years. Beginning in 1607, British colonization led to the establishment of the Thirteen Colonies in what is now the Eastern United States. They quarreled with the British Crown over taxation and political representation, leading to the American Revolution and proceeding Revolutionary War. The United States declared independence on July 4, 1776, becoming the first nation-state founded on Enlightenment principles of unalienable natural rights, consent of the governed, and liberal democracy. The country began expanding across North America, spanning the continent by 1848. Sectional division surrounding slavery in the Southern United States led to the secession of the Confederate States of America, which fought the remaining states of the Union during the American Civil War (1861–1865). With the Union's victory and preservation, slavery was abolished nationally by the Thirteenth Amendment. -
United States Virgin Islands
The U.S. Virgin Islands consist of the main islands of Saint Croix, Saint John, and Saint Thomas and 50 other surrounding minor islands and cays. The total land area of the territory is 133.73 sqmi. The territory's capital is Charlotte Amalie on the island of St. Thomas. -
American Samoa
American Samoa consists of five main islands and two coral atolls; the largest and most populous island is Tutuila, with the Manuʻa Islands, Rose Atoll and Swains Island also included in the territory. All islands except for Swains Island are part of the Samoan Islands, The total land area is 199 sqkm, slightly more than Washington, D.C. As of 2022, the population of American Samoa is approximately 45,443 people, of whom the vast majority are indigenous ethnic Samoans. Most American Samoans are bilingual and can speak English and Samoan fluently. -
East Timor
East Timor came under Portuguese influence in the sixteenth century, remaining a Portuguese colony until 1975. Internal conflict preceded a unilateral declaration of independence and an Indonesian invasion and annexation. Resistance continued throughout Indonesian rule, and in 1999 a United Nations–sponsored act of self-determination led to Indonesia relinquishing control of the territory. On 20 May 2002, as Timor-Leste, it became the first new sovereign state of the 21st century. That same year, relations with Indonesia were established and normalized, with Indonesia also supporting East Timor's accession into ASEAN. -
Federated States of Micronesia
While the FSM's total land area is quite small, the country's waters occupy nearly 3 e6km2 of the Pacific Ocean, giving the country the 14th-largest exclusive economic zone in the world. The sovereign island nation's capital is Palikir, located on Pohnpei Island, while the largest city is Weno, located in the Chuuk Atoll. -
Guam
People born on Guam are American citizens but are politically disenfranchised, having no vote in the United States presidential elections while residing on Guam. Guam delegates to the United States House of Representatives have no vote on the floor. Indigenous Guamanians are the Chamoru, historically known as the Chamorro, who are related to the Austronesian peoples of Malay archipelago, the Philippines, Taiwan, and Polynesia. But unlike most of its neighbors, Chamorro language is not classified as a Micronesian or Polynesian language. Rather, like Palauan, it possibly constitutes an independent branch of the Malayo-Polynesian language family. As of 2022, Guam's population is 168,801. Chamorros are the largest ethnic group, but a minority on the multi-ethnic island. The territory spans 210 mi2 and has a population density of 775 /mi2. The Chamorro people settled the island approximately 3,500 years ago. Portuguese explorer Ferdinand Magellan, while in the service of Spain, was the first European to visit the island on March 6, 1521. Guam was colonized by Spain in 1668. Between the 16th and 18th centuries, Guam was an important stopover for the Spanish Manila Galleons. During the Spanish–American War, the United States captured Guam on June 21, 1898. Under the 1898 Treaty of Paris, Spain ceded Guam to the U.S. effective April 11, 1899. -
Marshall Islands
The country's population of 42,050 people (at the 2021 World Bank Census ) is spread out over five islands and 29 coral atolls, comprising 1,156 individual islands and islets. The capital and largest city is Majuro. It has the largest portion of its territory composed of water of any sovereign state, at 97.87%. The islands share maritime boundaries with Wake Island to the north, Kiribati to the southeast, Nauru to the south, and the Federated States of Micronesia to the west. About 52.3% of Marshall Islanders (27,797 at the 2011 Census) live on Majuro. In 2016, 73.3% of the population were defined as being "urban". The UN also indicates a population density of 295 PD/km2, and its projected 2020 population is 59,190. -
Northern Mariana Islands
The United States Department of the Interior cites a landmass of 183.5 sqmi. According to the 2020 United States Census, 47,329 people were living in the CNMI at that time. The vast majority of the population resides on Saipan, Tinian, and Rota. The other islands of the Northern Marianas are sparsely inhabited; the most notable among these is Pagan, which for various reasons over the centuries has experienced major population flux, but formerly had residents numbering in the thousands. -
Palau
The country was originally settled approximately 3,000 years ago by migrants from Maritime Southeast Asia. Palau was first drawn on a European map by the German missionary Paul Klein based on a description given by a group of Palauans shipwrecked on the Philippine coast on Samar. Palau islands were made part of the Spanish East Indies in 1885. Following Spain's defeat in the Spanish–American War in 1898, the islands were sold to Germany in 1899 under the terms of the German–Spanish Treaty, where they were administered as part of German New Guinea. After World War I, the islands were made a part of the Japanese-ruled South Seas Mandate by the League of Nations. During World War II, skirmishes, including the major Battle of Peleliu, were fought between American and Japanese troops as part of the Mariana and Palau Islands campaign. Along with other Pacific Islands, Palau was made a part of the United States-governed Trust Territory of the Pacific Islands in 1947. Having voted in a referendum against joining the Federated States of Micronesia in 1978, the islands gained full sovereignty in 1994 under a Compact of Free Association with the United States. -
United States Minor Outlying Islands
In 1936, a colonization program began to settle Americans on Baker, Howland, and Jarvis, but all three islands were evacuated in 1942 as a result of World War II.