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Rating:The United States dollar, also referred to as the American dollar, is the official currency of the United States of America and its overseas territories. It is divided into 100 smaller units called cents. The U.S. dollar is the currency most used in international transactions and is one of the world's dominant reserve currencies. Several countries use it as their official currency and, in many others, it is the ''de facto'' currency. It is also used as the sole currency in some British Overseas Territories. The Constitution of the United States of America provides that the United States Congress shall have the power "To coin Money". Laws implementing this power are currently codified in Section 5112 of Title 31 of the United States Code.
read moreIn economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of bank deposits, ownership of which can be transferred by means of cheques, debit cards, or other forms of money transfer.
read moreThe pound is a unit of currency in some nations. The term originated in Great Britain as the value of a pound of silver. The word ''pound'' is the English translation of the Latin word ''libra'', which was the unit of account of the Roman Empire. The British pound derived from the Roman ''libra'', which is why the pound is often initialised to 'lb'; along with the French livre and the Italian lira, when, during Middle Ages the European countries adopted the LSD system.
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