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United States dollar (United States dollar abbreviation: USD;
ISO 4217
Currency code
: USD; Symbol: USA$) Yes
United States
,
Republic of El Salvador
,
Republic of Panama
,
Republic of Ecuador
,
Democratic Republic of Timor-Leste
,
Republic of the Marshall Islands
,
Federated States of Micronesia
,
Republic of Kiribati
and
Republic of Palau
the
Legal tender
. The dollar bills in circulation are the various editions issued since 1929
Cash
.
The year 1792
American coinage
Appears after the bill is passed. The current issue of US dollars is by
United States Federal Reserve System
Control. Since 1913, the United States has been established
Federal reserve system
Issue Federal Reserve notes. More than 99% of the banknotes currently in circulation are
Federal reserve note
.
The issuing authority of the US dollar is
Congress
, the specific issuance business by
Federal reserve bank
Be responsible for handling. After World War II, continental European countries reached an agreement with the United States to use the dollar for international payments
Reserve currency
It was widely used outside the United States and eventually became
International currency
.
[1]
As of 10 p.m. on December 16, 2021, the lira exchange rate against the dollar has exceeded 15.6, hitting a new low. Since 2021, the lira has depreciated by more than 50% against the dollar.
[2]
2023
From March 1 to 29, customers withdrew nearly $499 billion from the U.S. banking system
This is the largest outflow of deposits from the US in 50 years.
[4]
In recent years, there has been a growing call for "de-dollarization" around the world. Major economies, including developed countries and emerging market countries, have pursued "de-dollarization" policies by innovating cross-border payment and settlement mechanisms, signing bilateral currency agreements, and promoting diversification of foreign exchange reserves
[7]
- Chinese name
- U.S. dollar
- Foreign name
- United States Dollar (USD)
- definition
- United States of America and other countries legal tender
- alias
- USD , Ushiba
- Issuing institution
- United States Federal Reserve (USA Federal Reserve Bank)
- Single position
- dollar$; Dollar $; cent￠
- Carry bit
- $1=100￠
- Paper currency
- $1 $2 $5 $10 $20 $50 $100
- Hard currency
- 1￠5￠10￠25￠50￠$1
- glyphsign
- $
In 1792, the dollar was at 13
colony
A currency area was formed, and the United States was only a country of 4 million people at that time. By the end of the 19th century, it had become the most powerful country in the world. By 1914
World War I
At the time of the outbreak, the United States economy was larger than the three largest countries: Britain, Germany, France, or even their combined size, which made the dollar increasingly prominent. During World War I, gold from European countries flowed into the United States to buy war supplies. The Federal Reserve's use of this gold as legal tender contributed to inflation. From 1914 to 1920 the price level in the United States nearly doubled. Then the Federal Reserve Bank of the United States decided to fight inflation in an attempt to restore prices to their original levels. What followed was a period of deflation in which the price level fell by 30% from 200 to 140 in a single year in 1920, the largest deflation in U.S. history. Although the 35 years of the gold standard were a "golden age" of liberal capitalism, fixed exchange rates were guaranteed
International trade
And credit security, convenient production cost accounting, avoiding the advantages of international investment risks. To a certain extent, it promotes the development of international trade and investment. However, the strict fixed exchange rate system makes it difficult for countries to implement favorable monetary policies according to the needs of their own economic development, and economic growth is greatly restricted. During World War II,
International monetary system
It's more of a mess. In order to solve this chaotic situation, in 1943, White, an official of the US Treasury, and Keynes, an adviser to the British Treasury, respectively, designed the post-war international monetary and financial system from their own national interests, and put forward two different plans, namely, the White Plan and the Keynes Plan.
The White Plan called for the abolition of foreign exchange controls and national restrictions on international money transfers, and the establishment of an international stability fund to issue one
International currency
"Unity", which keeps national currencies fixed against it, that is, the fund's currency is linked to the US dollar and gold. The currencies of member States shall maintain a fixed exchange rate with the "Unity", and the currencies of Member States shall not be devalued without the approval of three-fourths of the voting rights of the members of the "Fund". And the "Keynes Plan" from the then British
Gold reserves
Lack of departure, advocates the establishment of a world central bank, the claims and debts of countries through its deposit account transfer for settlement.
World War II
In the last stage,
Italy
Germany had surrendered, Germany had shifted to strategic defense on the eastern front, Japan had lost the ability to conduct major campaigns in the Pacific, and their domestic economy was close to collapse; The economic power of Britain and France was severely damaged during the war; The situation of the Soviet Union was similar to that of Britain and France. The Third Five-Year Plan was still unfinished and was invaded by fascist Nazi Germany. Only the United States made a fortune in the war and enjoyed unprecedented economic development. Gold flowed into the United States, and in 1945 the gross national product of the United States accounted for 60% of the gross national product of all capitalist countries
Gold reserves
It increased from $14.51 billion in 1938 to $20.08 billion in 1945, accounting for about 59% of the world's gold reserves, equivalent to 3/4 of the entire capitalist world's gold reserves, which made it the leader of the capitalist world. In this situation, the international monetary system centered on the US dollar was formed after the Second World War.
In July 1944, on the eve of victory in World War II, 44 people in World War II were killed
Allied countries
Under British and American organizations, in the United States
New Hampshire
The "International Monetary and Financial Conference of United and Allied Countries", attended by 730 people at a hotel in Bretton Woods, New Hampshire, adopted the White Plan, based on the White Plan proposed by Assistant Treasury Secretary White.
International Monetary Fund Agreement
"And"
International Bank for Reconstruction and Development Agreement
", the general title
The Bretton Woods Agreement
From then on
The Bretton Woods system
.
This supremacy of the dollar in the international monetary system has brought enormous benefits to the United States.
First, it allows the United States to borrow unfettered from the world, but to repay the debt irresponsibly or at all. Because its borrowing from other countries is denominated in dollars, it can let the printing press print more dollars without restraint, which can reduce its foreign debt burden even if it causes the dollar to depreciate, and stimulate exports and improve its balance of payments position. In addition, because the investment environment in the United States was relatively stable at that time, investment in the United States could bring more profits, so many people wanted to invest in the United States. And the arrival of a large amount of liquid dollar funds, so that its interest rate fell, compensate
Fiscal deficit
The cost is compressed. Also, under normal circumstances, when a country's balance of payments appears
deficit
In general, economic policies should be adjusted. The United States does not have to do that. Because the dollar is an international currency, when the United States has a foreign trade deficit, the United States government can print dollars to make up for the deficit, maintain the balance of the national economy, and transfer inflation to other countries. This is the main reason why the postwar United States remained economically stable despite decades of high fiscal deficits. In addition, the United States could gain a huge amount of money
seigniorage
. Seigniorage was originally a tax imposed by Western European countries in the Middle Ages on gold, silver and other precious metals sent to mints for coinage. Later, it referred to the profit made by the government from issuing currency (equal to the difference between the face value of the coin and the price of the metal coin). After the collapse of the gold standard, the credit standard based on paper money replaced the gold standard; Acting as an international currency, the dollar has brought huge benefits to the United States. When a worthless paper money is printed by the state, seigniorage is equal to the value of the social goods that this paper money can buy, and the difference is the "seigniorage" of the United States.
On the basis of
National Security Agency
Released in 1994, the world dollar bill
Volume in circulation
Of the $350 billion, one-third is in circulation within the United States and two-thirds is in circulation abroad. The New York Fed reports that of the $620 billion in currency in circulation at the end of 2002, about 55% to 60%, or about $340 billion to $370 billion, was circulating outside the United States. On the basis of
Federal reserve system
Recent estimates suggest that about two-thirds of all dollars in circulation are held outside the United States. In circulation all over the world
American currency
The total has reached nearly $700 billion. Between 1989 and March 1996 alone, $44 billion and $35 billion flowed to Russia and Argentina, respectively. The cost of materials and labor to print a $1 bill in the United States is only $0.03, but it can buy $1 worth of goods, and the United States gets a huge amount of about $25 billion a year
seigniorage
Earnings. Cumulative earnings since World War II are around $2 trillion.
But because of World War II
inflation
Inflation after World War II,
Korean War
and
Vietnam War
The inflation of the period, and another round of inflation between the two inflations, caused the price level of the United States to double between 1934 and 1971, while the United States, depending on the economic strength of the time and the gold reserves, kept the dollar value of gold constant, overvaluing the dollar and undervaluing gold. This is when central banks began to accumulate gold, converting their dollars into gold to increase their reserves. In 1948, the United States owned 70% of the world
Monetary gold
That's 700 million ounces. With the economic recovery and rapid development of Japan and Western Europe, the hegemonic status of the United States has been declining, and the dollar has exacerbated the deterioration of gold supply and demand. In the 1950s and 1960s, the United States caused by the development of the domestic economy and the Vietnam War
Balance of payments deficit
And it keeps increasing
Currency issuance
This has pushed the dollar far below the gold parity, making the official gold price increasingly the price that buyers are willing to pay. There was a wave in Europe because of the Vietnam War
anti-Americanism
France took the lead in reserving all its surplus in the form of gold. As a result, U.S. gold reserves fell from 700 million ounces in 1948 to 250 million ounces in 1970, more than half of the gold reserves were lost, and nearly two-thirds of the gold reserves were lost, further increasing the excess supply of dollars and the demand for gold
Excess demand
. In addition, speculators in the international market seized the trend of the collapse of the fixed exchange rate system and encouraged them to bet heavily on gold by borrowing dollars, resulting in the complete collapse of the fixed exchange rate system. There was a "dollar crisis" in 1971, and there were 11 such dollar crises in the 1960s and 1970s. Although the U.S. government has taken many emergency measures to save the dollar, it has not worked. America
Economic recession
Capital fled and dollars flooded the world. Finally, the United States faced the crisis of depletion of gold reserves, had to abandon the dollar gold standard, and the dollar lost its special status equivalent to gold.
The dollar's stability can be attributed to the following factors: zero inflation growth, the safe haven nature of U.S. asset markets, and
Euro
Risk.
By 2023, according to the latest statistics released by the Federal Reserve
From March 1 to 29, customers withdrew nearly $499 billion from the U.S. banking system.
This is the biggest outflow of deposits from the US in 50 years.
[4]
According to Iraqi media reports on October 5, 2023, a senior official of the Central Bank of Iraq said,
Iraq
From January 1, 2024, all US dollar cash withdrawals and transactions will be banned to curb the misuse of the country's foreign exchange reserves, which leads to financial crimes.
[5]
In 1792, the dollar was adopted
Gold and silver duplicity system
According to the coinage Act of that year, one dollar was equivalent to 371.25 remes (24.057 grams) of sterling silver or 24.75 remes (1.6038 grams).
Pure gold
. Until 1873. One dollar is worth 24.057 grams of silver, which is about equal to one Spanish coin
Silver dollar
. Because the U.S. government rarely mints a dollar
coin
Therefore in
Civil War
The Spanish dollar has always been one of the main currencies in circulation in the United States, and it is also widely used by government and private banks in the United States
Spanish silver dollar
As a reserve, Americans mostly exchanged bank notes for Spanish silver dollars.
First term
Secretary of the Treasury
After taking office, the United States adopted the "gold standard" for currency. By the outbreak of World War I in 1914, the gold standard had collapsed as countries stopped importing and exporting gold. Later in the gold standard, the dollar
Gold content
It's 1.50466 grams. On January 31, 1934, the gold content of the US dollar was set at 13.714 reams (0.888671 grams). The official price of gold was raised from $20.67 an ounce to $35. By 1934, when the dollar was devalued, the U.S. government gradually withdrew all kinds of pre-1922 notes. The depreciated dollar cannot be redeemed only by foreign countries
Central bank
It can be exchanged for gold in the United States at official rates.
On December 18, 1946,
The International Monetary Fund
The official gold content of the dollar is 0.88867 grams. Later, due to the United States
Balance of payments
continue
deficit
, result in
inflation
Serious,
Dollar crisis
Deepen.
On August 15, 1971,
President of the United States
Nixon announces the dollar
devalue
And stop converting dollars into gold,
The Bretton Woods system
Begins to collapse for overcoming
International financial market
Chaotic situation, mainly
Capitalist country
Repeated consultations culminated in December 1971 with an agreement.
The Smithsonian Institution Agreement
". The main contents are: the dollar depreciated 7.89% against gold, and the official price of gold increased from $35 to $38 per ounce;
Exchange par
The range from 1% to 2.5%, the gold content of the US dollar fell to 0.818513 grams, against"
Special Drawing Rights
The exchange rate was reduced from 1:1 to $1.08571, equal to 1 "special drawing right". However, these measures have not deterred the United States
Balance of payments deficit
And the worsening of the dollar crisis.
On February 12, 1973, the dollar depreciated again by 10%, reducing the gold content to 0.73662 grams, the official price of gold per
ounce
To $42.22. Against the SDR, the price fell to $1.20635 equal to 1 "special drawing right". European countries and other major capitalist countries withdrew
Fixed exchange rate system
The fixed exchange rate system completely collapsed, and the dollar exchange rate moved to float. The dollar no longer has a legal gold content.
The main image on the front of the dollar bill is the head of a person, and the main color is black. The main pattern on the back is architecture, and the main color is green, but there are few differences in the color of different editions, such as the back of the 1934 edition is dark green, the back of the 1950 edition is grass green, and the back of the 1963 edition is dark green. Since dollar green is an ink made from a tree juice, the quality of the SAP is different each time, so the color is slightly different. The signature on it is the signature of the Secretary of the Treasury, which is different for different years of issue. Prior to the 20th century, 1, 5, 10, 25, and 50 cent notes were issued. The large front dollar is about half the size of the small front dollar. Interestingly, all dollar denominations are the same size, and the $20 bill is the most used high-denomination bill in the United States.
|
One dollar
|
The first president of the United States, George Washington
|
The American coat of arms and the Eye of God
|
|
Two dollars
|
Thomas Jefferson, the third president of the United States
|
Declaration of Independence signing scene
|
|
Five dollars
|
Abraham Lincoln, 16th President of the United States
|
Lincoln Memorial
|
|
Ten dollars
|
Alexander Hamilton, America's first Secretary of the Treasury
|
United States Treasury
|
|
Twenty dollars
|
Andrew Jackson, the seventh president of the United States
|
The White House
|
|
Fifty dollars
|
Ulysses S. Grant, 18th President of the United States
|
United States Capitol
|
|
One hundred dollars
|
Benjamin Franklin, American statesman and scientist
|
Independence Hall, Philadelphia
|
Big Front Page Dollar (1996-2008)
|
Five dollars
|
Abraham Lincoln, 16th President of the United States
|
Lincoln Memorial
|
|
Ten dollars
|
Alexander Hamilton, America's first Secretary of the Treasury
|
United States Treasury
|
|
Twenty dollars
|
Andrew Jackson, the seventh president of the United States
|
The White House
|
|
Fifty dollars
|
Ulysses S. Grant, 18th President of the United States
|
United States Capitol
|
|
One hundred dollars
|
Benjamin Franklin, American statesman and scientist
|
Independence Hall, Philadelphia
|
Color dollar
|
Five dollars
|
Abraham Lincoln, 16th President of the United States
|
Lincoln Memorial
|
|
Ten dollars
|
Alexander Hamilton, America's first Secretary of the Treasury
|
United States Treasury
|
|
Twenty dollars
|
Andrew Jackson, the seventh president of the United States
|
The White House
|
|
Fifty dollars
|
Ulysses S. Grant, 18th President of the United States
|
United States Capitol
|
|
One hundred dollars
|
Benjamin Franklin, American statesman and scientist
|
Independence Hall, Philadelphia
|
Banknote pattern
Five hundred dollars
The front of the $2 bill (1976) shows the third President of the United States
Thomas Jefferson
Portrait of Thomas Jefferson (1743-1826), original by G.C.Stuart. On the back is
Jefferson House
(pre-1976 edition),
Declaration of independence
Signing venue (1976 onwards).
The front of the $5 bill (1995, 1999) shows the 16th President who abolished slavery in the United States
Abraham Lincoln
(Abraham Lincoln,1809-1865). The back is in Washington
Lincoln Memorial
.
One thousand dollars
The $20 bill (1995, 1996, 2004) features the 7th President of the United States on the front
Andrew Jackson
(Andrew Jackson,1767-1845). On the back is the White House, the president's office.
The front of the $50 bill (1990, 1996) shows the 18th President
Ulysses Grant
(Ulysses Simpson Grant,1822-1885). On the back is
Capitol Hill
.
The front of the $100 bill (1988, 1996) is not a president, but a famous scientist, politician, and financier
Benjamin Franklin
(Benjamin Franklin,1706-1790) portrait, as he was in
American Revolution
Drafting the famous Declaration of Independence. On the back is
Philadelphia Independence Hall
.
Five thousand dollars
The obverse of the $1,000 bill is 22nd and 24th
President of the United States
He was the first Democrat to be elected president after the Civil War
Cleveland
(Cleveland,1827-1908) Portrait. On the back is the name of the United States and the words "ONE THOUSAND DOLLARS."
On the front of the $5,000 bill is the "Father of the United States Constitution," the fourth president
Madison
(Madison,1751-1836) Portrait. On the back is the name of the United States and the words "FIVE THOUSAND DOLLARS."
$10,000
$100,000
Among the various dollar currencies issued in the United States, the Federal Reserve Note series includes $500, $1,000, $5,000, and $10,000
Face value
Gold coin notes include denominations of $1,000, $10,000, and $100,000. There are no denominations over $100 in other currencies
Paper money
.
March 9, 1933, President of the United States
Roosevelt
A presidential decree was signed ending the circulation of gold notes and withdrawing them regardless of denomination. By 1940, the gold coins had been withdrawn. No new ones were issued in the United States after 1946
Large denomination note
By 1969, all large denomination notes above $100 were withdrawn from circulation.
Origin of paper money
Dollar bills are made of cotton and hemp. Long cotton fiber makes the paper not easy to break, good ink absorption, not easy to fade. Hemp fiber is strong and tough, so that the paper is crisp, durable circulation without hair, and has a certain resistance to water, oil and some chemicals. The dollar paper is not added
brightener
, in original white, in
Purple lamp
It doesn't reflect light. Since 1880, greenback paper has been filled with red and blue fiber, which is mixed with pulp when paper is made. Therefore, some fibers are caught in the paper, and some float on the surface, and the fiber can be picked out with the tip of a needle. Before 1928, the red and blue filament was distributed in the center of the banknote, a narrow strip from top to bottom. In 1928 and later editions, the entire edition was made of fibrous silk. Since 1990, the dollar paper (on the left of the portrait) has added a safety line made of polyester polymer material called "Myra", and the safety line has a dollar sign and denomination number, which is clearly visible to the light. The ink on the front of the dollar is slightly dark black, slightly gray, and the back is green. After 1934, the ink was added to the magnetic substance, and the magnetic real dollar bills were made of fluorescent ink and
Magnetic ink
The special ink is specially made, so the green logo and green number on the right side of the front of the dollar bill can leave a "green mark" on the paper after being wiped hard on the white paper. Some U.S. dollars issued after 1996 appear black and green depending on the Angle of the light. The main pattern of the dollar is
Engraving intaglio printing
, library printing and serial number, etc. are letterpress printing. After the 1990 edition, microtext was added around the portrait window below.
Library seal
The Treasury seal is on the bottom of the bill, and the Treasury seal of the Federal Reserve Notes is on the right. For other coupons, the 1928 edition is on the left, and the 1934 edition has been reprinted on the right.
The early library printing is a circle with forty teeth, each tooth thickness and size is uniform, the circle inside a circle with the Latin word "THESAUR AMER SEPTENT SIGIL", the center of the circle is a shield, the shield is divided into two parts by an inverted V, the upper part is a balance, there are 32 dots distributed around. There are 13 five-pointed stars in the inverted V, the lower half is a key, the keyhole is a "T" shape, and there are 17 dots around it, and 49 dots throughout the shield. Since THE 1969 edition, THE library seal has been further simplified, the text has been changed to English "THE DEPARTMENT OF THE TREASURY,1789" (Treasury,1789), the outer pattern of the shield has been eliminated, the top half is 22 dots, the bottom half is 17 dots, a total of 39 dots. The 1928 and 1934 editions were large Ku prints with a diameter of 20 mm, and the 1935 and subsequent editions were all changed to small ku prints with a diameter of 16 mm, with the same pattern and text. The colors of the seal are green, blue, yellow, red, and brown, which vary according to the type of certificate, the green seal is the Federal Reserve certificate, which is commonly known as the dollar, the blue seal is the silver coin certificate, the yellow seal is the gold coin certificate when the gold standard was not abolished, the red is the government certificate, and the blue, yellow and red three colors of the seal were more common in the 1930s and 1940s. Above Kooin is the place name of the capital, "WASHINGTON, D.C."
|
city
|
CODE
|
letter
|
|---|---|---|
|
Boston (Boston)
|
1
|
A
|
|
New York
|
2
|
B
|
|
Philadelphia (Philadelphia)
|
3
|
C
|
|
Cleveland (Cleveland)
|
4
|
D
|
|
Richmond
|
5
|
E
|
|
Atlanta
|
6
|
F
|
|
Chicago (Chicago)
|
7
|
G
|
|
St. Louis (St. Louis)
|
8
|
H
|
|
Minneapolis
|
9
|
I
|
|
Kansas City, Kansas
|
10
|
J
|
|
Dallas
|
11
|
K
|
|
San Francisco
|
12
|
L
|
quarto
The 1963 edition and later editions of the dollar printed thirty-two bills on A large piece of paper, but only 26 letters, not enough, so a large piece of paper was divided into quarters, each printed eight, and eight check letters (A-H) were used to indicate that each bill was in a certain open position. Quarto then press the number 1-4, call the quarto number, and use small print in the upper left corner to check the lower right corner of the letter. For example, C2 means that the ticket was in the third position of the second opening at the time of printing.
Plate number
On the front of the bill, to the right of the check letter in the bottom right corner, or below the check letter, a small number is printed. This is the front plate number. The number below the right side of the back, or in the middle of the right side, is the back plate number.
It consists of one or two initial letters plus eight numbers and a final letter. By law, each number can appear only once, so the Federal Reserve Bank of the United States sometimes prints dollars with an asterisk (called a Start Nots) at the end of the serial number to make up for temporary shortages. There is no difference between a star-marked dollar and any other dollar note of the same denomination.
intro
There are 6 denominations of coins in circulation in the United States: 1 cent, 5 cent, 10 cent, 25 cent, half dollar and 1 dollar. The heads of 6 famous presidents in the history of the United States have appeared on these 6 denominations of coins. The coins issued before 2013 are old versions, and new versions are issued in 2013. 1
cent
The pattern is well known in American history
Lincoln
The profile picture of the president was issued in 1909, the 100th anniversary of Lincoln's birth. It is worth mentioning that in the past, the United States has used resin tokens with the same pattern but different materials. The reverse side of the previous coin featured the Lincoln Memorial; the reverse side of the new coin featured the coat of Freedom; The five-cent pattern honors the third president of the United States, the United States
Declaration of Independence
drafter
Jefferson
Issued in 1938 on the 130th anniversary of his return to his former home, the coin's obverse pattern was changed from Jefferson's side to eight sides; The dime pattern is implemented"
Roosevelt's New Deal
Issued in 1960 on the first anniversary of President Roosevelt's death (1946), the silver coin, the quarter cent, was the most common in the United States
Fractional currency
It was issued in 1932 on the 200th anniversary of the birth of Washington, the founding president of the United States. It is worth mentioning that its front is a unified presidential image, while the back is apart
United States federal government
Instead of an eagle, the quarter issued by the state government featured the most distinctive features of the state. For example, behind the New York State coin is
Statue of Liberty
; The half dollar coin was originally from the United States
Statue of Liberty
The most common is the youngest president in American history
Kennedy
In 1963, Kennedy was tragically assassinated, in order to commemorate him, the United States changed to Kennedy's head as a half dollar pattern in 1964; The $1 coin has two designs, one of which was introduced in 1961
Eisenhower
Due to the large outer diameter of the coin (38.1 mm in diameter, commonly known as the big dollar dollar), it was inconvenient to circulate and use, so it was re-issued in 1981 with a small dollar dollar (26.5 mm in diameter, which is smaller than the outer diameter of the half dollar), and the image was changed to that of an American feminist activist
Susan B. Anthony
The head of... On November 18, 1999, the golden dollar was premiered at the Philadelphia Mint with an image of an Indian woman, Sacagawea, carrying her infant son, Jean Baptiste. To recognize Native American women and their contributions to the United States.
In October 2022, the United States Mint began manufacturing printed actors
Yellow willow cream
A headshot of the quarter, from the United States Mint's "American Women's Quarter Project," printed on the obverse of the coin
George Washington
On the reverse is a close-up image of yellow willow cream. She also became the first Asian American and Chinese American to be placed on a U.S. currency.
[3]
|
1 cent
|
Abraham Lincoln
|
Union shield
|
|
nickel
|
Thomas Jefferson
|
Monticello
|
|
Ten cents
|
Franklin Roosevelt
|
Olive branches, torches and oak branches
|
|
Twenty-five cents
|
George Washington
|
No uniform design, five new patterns every year
|
|
Fifty cents
|
John F. Kennedy, 35th President of the United States
|
Emblem of the United States
|
|
One dollar
|
No uniform design, all the presidents of the United States
|
Statue of Liberty
|
Secret mark
In USD
coin
In less obvious places, there are symbols used to identify him. Below the person on the front, there will be a capital letter indicating which mint it was made by. The meaning is as follows:
P Adelphia MINT (also known as the PHILADELPHIA MINT)
D DENVER MINT
W WEST POINT MINT
Commonly referred to as P, D, and so on are the versions of different mints, which may vary slightly in detail.
"$" is a symbol of the dollar sign.
Logo pattern
There are many theories about the origin of the dollar sign, of which two are more common. One theory is that the symbol was formed by placing a narrower U over a wider S, so it stands for the United States
Dollar sign
. Another version, however, states that it is an evolution of PS superposition writing. PS is an abbreviation for Pesos, a type of round coin used in the United States during the 18th and 19th centuries that was used throughout the country until the formal establishment of the United States Mint in 1974. Later, the United States government recognized the $sign as a unit of the new currency, the dollar. In writing, $should be placed in front of the number. For example, $1 should be written as $1, and $50 should be written as $50.
|
A given year
|
1971
|
1972
|
1973
|
1974
|
1975
|
1976
|
1977
|
1978
|
1979
|
1980
|
1981
|
|
Exchange rate
|
2.462
|
2.245
|
1.989
|
1.961
|
1.859
|
1.941
|
1.858
|
1.684
|
1.555
|
1.498
|
1.705
|
|
A given year
|
1982
|
1983
|
1984
|
1985
|
1986
|
1987
|
1988
|
1989
|
1990
|
1991
|
1992
|
|
Exchange rate
|
1.893
|
1.976
|
2.320
|
2.937
|
3.453
|
3.722
|
3.722
|
3.765
|
4.783
|
5.323
|
5.516
|
|
A given year
|
1993
|
1994
|
1995
|
1996
|
1997
|
1998
|
1999
|
2000
|
2001
|
2002
|
2003
|
|
Exchange rate
|
5.762
|
8.619
|
8.351
|
8.314
|
8.290
|
8.279
|
8.278
|
8.279
|
8.277
|
8.277
|
8.277
|
|
A given year
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
2013
|
2014
|
|
Exchange rate
|
8.0922
|
8.1917
|
7.9735
|
7.5215
|
6.9385
|
6.83
|
6.615
|
6.452
|
6.298
|
6.193
|
6.1461
|
(Note: Annual average, the amount of 1 US dollar in RMB, with special instructions: 1949-1952 is
Floating exchange rate
In 53-71, it was 2.462)
Exchange rate
In...
Declaration of independence
Paper money had been used in the United States before it was published. The history of money in the United States dates back to 1690,
Massachusetts
The colonies issued the first currency to cover the cost of military expeditions, and this practice soon spread to other colonies, but hand-carved copper plates were easily worn out and required constant reworking, so it was impossible to maintain the consistency of the finished product. As a result, criminals had the opportunity to take advantage of it, and eventually counterfeit notes became widespread, so these bills were soon abandoned.
In 1764, after years of restrictions on currency in the North American colonies, the British authorities finally imposed a ban on the issuance of money in the colonies. Later, due to the British
War of independence
The North American colonies consumed a lot of money, and a large amount of gold and silver was collected by the British as taxes, resulting in a lack of funds in the United States. The Continental Congress, a coalition of the 13 colonies, met on May 10, 1775, in order to raise funds
Massachusetts
Talks were held and, on 22 June, approval was granted for the issuance of a convertible Spanish silver dollar with a total value of $2 million
Paper money
It is called Continental Currency. However, due to the appearance of counterfeit banknotes soon, its value and utility are so small that in the saying, the worthless things are called "less than a continental coin". The note was issued in 1781 as a bank note (i.e., issued by a bank and freely convertible within the scope of that bank)
Metal money
The paper currency) replaced.
On December 31, 1781,
Philadelphia
The Bank of North America became the first
National bank
And obtain the concession to issue banknotes. The year 1789
United States Constitution
After the proclamation, the Bank of New York and the Bank of Providence were also chartered to issue money (until 1836). On July 6, 1785, Congress made the Dollar legal
Monetary unit
. In 1791 Congress chartered it again."
Bank of America
Twenty years as Treasury Agent for the United States Treasury. This is the first for the government to perform
Function of central bank
The bank remained in operation until 1811, when Congress refused to renew its charter. Recognizing the need for a central banking system to meet the nation's financial needs, Congress chartered a second "Bank of the United States" in 1816 with agency for another twenty years. In 1877, the Department of the Treasury began printing all
American currency
.
In 1861, to raise money
Civil War
For the cost, Congress enacted legislation authorizing the Treasury Department to directly issue $450 million without
mintage
And gold-backed, uncashed "Demand Notes." To prevent counterfeiting, it used a green ink that was difficult to photocopy (silver halide photoreceptors were least sensitive to green light), and for technical reasons, the back of the bill was a darker green than the front, hence the name "greenback" (which is what we still call the dollar today). Technically, it was the first widely circulated American currency. They are called federal Notes, or United State Notes. Its library number and serial number are red. Each "demand note" shall be personally signed by an agent of the Registrar of the Treasury and the Treasurer of the Commonwealth. This impractical measure inspired new legislation allowing registrars and ministers of finance to print signatures on currency. This began with the first series of government bonds issued in 1862.
In accordance with the provisions of the United States law of 1861, the Treasury Department issued another
State Treasury bond
TREASURYNOTE, which came in only two editions, 1890 and 1891, with which silver and gold could be purchased at the time.
From 1862 to 1864
National bank act
Authorized to be issued in the United States by designated banks in each state
Government loan
reserve
Paper money
, called the country
Bank note
(NATIONALCURRENCY) Treasury seal and serial number are brown, also known as national notes or national circulation notes. There are about 1,600 state and private banks that issue money, and more than 7,000 different forms of legal tender. Anyone licensed to issue paper money
Private bank
In 1863, state banks were required to participate in the national banking system or pay a 10% tax on banknote issuance. In 1908, the Act was added to permit it
National Bank
In addition to US Treasuries
bond
Issue paper money for reserves. Later, national coupons were formed by
Federal reserve bank
There are two main versions of the National Bank: the version issued by the National Bank has a 6-digit serial number, and two or four black numbers in bold font are printed on the left and right sides of the front, and the other has an 8-digit serial number; On the front side of the bill, the name of the Federal Reserve Bank is printed on the left side of the bill, and on the left and right side are four black letters facing diagonally, which are issued by the Federal Reserve Bank. The earlier national notes were signed by four persons in charge, the two top corners were signed by the Minister of Finance and the Treasurer, and the two bottom corners were signed by the chief cashier and the president. The note was withdrawn from issuance on July 1, 1935. A 1929 edition was issued after 1928, which was published by the United States Treasury Department
World War II
In order to finance military expenditure, the US $660 million banknote was issued in the form of state vouchers in December 1942.
In order to redeem GOLD, the United States government began issuing GOLD CERTIFICATES in 1870, which were printed with yellow serial numbers, also known as gold Certificates
Gold dollar certificate
. The words "Holder may redeem gold coins" are printed on the face of the note. It is a currency issued by the United States Treasury and backed by 100 percent gold. From the end of the Civil War until 1933, gold coin notes were freely convertible for gold coins and circulated as part of the U.S. money supply. With the collapse of the gold standard in 1931, gold coin notes ceased to be exchanged for gold in 1933.
In order to prevent the smuggling of silver out of the country, the United States began to issue silver certificates in 1878. Library seal, serial number is blue, also known as
Silver certificate
. Issued under laws passed in 1878 and 1886, it was redeemable for the equivalent amount of silver dollars, but due to the rising price of silver, the silver dollar note was no longer redeemable from June 24, 1968
silver
. In addition, there is a yellow silver coin printed in blue company, which was used by the United States Army in North Africa during World War II. The yellow seal was distinguished from the blue seal in case it fell into enemy hands and could be nullified. After the end of the war, many yellow printed notes circulated widely and were used like other notes.
The United States at
Korean War
In Korea, a military ticket was issued with the words "Military war zone payment voucher" printed on the ticket, which was limited to use in war zones and was not used as general currency circulation. The votes were voided on May 25, 1954. In addition, there is the Hawaiian Note, which is not a separate type of note, but a black "HAWAll" printed on the existing note (Federal Reserve Notes and silver notes), with the hollow "HAWAll" printed in larger font across the middle of the bill. The library seal and serial number are brown. Originally for...
Hawaiian Islands
Used and later circulated everywhere.
The various notes issued from 1861 to 1928 as described above, with larger notes of 178mmx73mm in both size and denomination, were withdrawn by order of the United States Treasury in 1922, but remained legal tender in the United States and could be exchanged with the Bank of the United States. On December 23, 1913, the United States Congress passed the Federal Reserve Act, establishing the Federal Reserve System. According to"
bill
The Federal Reserve is divided into 12 Federal Reserve districts, each of which is established in a designated central city (Federal Reserve City)
Federal reserve bank
There are 12 Federal Reserve banks in the country, which exercise the functions of the central bank, so there are 12 Federal Reserve banks in the United States
Function of central bank
. , was set up in Washington, D.C.
Federal Reserve Board
, as the highest governing body. The Federal Reserve was issued as legal tender by the Federal Reserve Bank on November 16, 1914
Bank note
FEDERAL RESERVEBANK NOTES were exchanged for National bank notes, which were withdrawn from issue on June 12, 1945. At the same time, FEDERAL RESERVE NOTES were issued as a daily mass currency. Federal Reserve notes are required to be adequately backed by gold or
Government bond
, senior or short-term commercial securities. Its serial number and library print are green. Ninety-nine percent of what we have access to is Federal Reserve notes, with a small amount of government notes and silver coins.
On October 8, 2013, the new 100 dollar bill was released. The new dollar uses the 3D MOTION technology, which includes several advanced anti-counterfeiting technologies.
The new version of the dollar front pattern has changed greatly, canceling the concentric circle at the bottom of Franklin's head, adding a quill pen, independent bell matching process, different body text shading printing, etc., and the face is more substantial and colorful. The paper in the blank of the pattern shows a bean green color, which is obviously different from the original fish white.
The pattern on the back of the new version of the dollar has changed fundamentally, like a face change, from the old version of the dollar to the back of the new version, completely different.
The new version of the dollar highlights 3D dynamic PET plastic technology, the 6mm wide 3D dynamic security wire MOTION process, the technical principle is similar to the kaleidoscope, the colorful evolution speed of more than 200 times the human eye, the bottom with ASU and 100 dollar number changes. Excellent anti-counterfeiting effect, extremely difficult to copy. There is a security line hidden inside the left side of the ticket, which also has the ASU and 100 amount numbers after light perspective.
The new dollar's prefix number is even more spectacular. When consumers spend money, they touch their hands gently, and their three-dimensional feeling will collide with their hearts. The technology of prefix number is one of the basic elements of currency face, which plays the role of protecting the normal circulation of currency in some aspects. Consumers can remember several digits of large tickets when they spend money, so as to avoid the real money being swapped by criminals for fake money and suffering unnecessary economic losses. From the physical observation and simple analysis of the world's advanced currency issuance, the application of OVI, OVMI, SPARK special ink, hollowing, light change, holographic,
Dynamic safety cable
Currency printing technology, etc., has been successively adopted by the world's advanced currencies, representing the direction of research and development, production and operation of a new generation of currencies.
The issuance of the new dollar has had its ups and downs. It has been more than two years since it was announced in May 2011 and released in October of that year until October 8, 2013. During the period, it was twice announced that major quality problems had occurred in the printing production process and heavy losses.
It is mainly distributed in the United States.
In the mid-1960s, five years after the first dollar crisis, the U.S. expanded its war of aggression against Vietnam, and the balance of payments worsened further, leading to the dollar crisis in March 1968
A severe second economic crisis. More than half a month, the United States
Gold reserves
More than $1.4 billion was lost. On March 14, 1963, a record 350-400 tons of gold were traded on the London Gold Market. In the face of such a situation, the gold pool is impossible to cope with. The members of the Gold Pool (the United States, the United Kingdom, France, Switzerland, Germany, Italy, the Netherlands, and Belgium were established in October 1961) decided after consultation that the United States and the gold Pool could no longer supply gold on the free market at the official price of $35 an ounce of gold, that is, the official price of gold would no longer be maintained, and the gold market would allow it to rise freely. But governments and
Central bank
Gold can still be exchanged for U.S. dollars at the official gold price, and the gold price on the free market is no longer linked to the official gold price, which is the so-called "gold price".
Gold double price system
". At the same time, the United States reached an informal "gold Withdrawal restraint agreement" with the former members of the gold Pool, in which the countries agreed in principle to no longer exchange large amounts of gold in dollars to the United States, in order to reduce the pressure on the United States to cash in gold. As a result, the United States' economic strength has fallen to a very weak position (by the end of 1968, the United States' share of the Western world's total gold had fallen to 25%).
Several ways to identify the real and fake U.S. dollars:
Dollar figure
2, needle pick identification: the blank of the real dollar bill, containing a cause of small red, blue fiber, with the tip of the needle can be picked out, the fake dollar has no red and blue fibers, some only printed on the surface can not be separated from the paper, and some paper has red and blue fibers, although it can also be picked out by the needle, but the material of the false fiber is different, under the purple light inspection, no fluorescence reaction.
3, wipe identification: the green logo and number on the right side of the real dollar ticket, after wiping hard on the white paper, the paper will leave a bright green impression, after the fake dollar wipe, although there are traces, but not obvious.
4, texture identification: the real dollar is made of cotton, hemp fiber as raw materials of a special paper for printing banknote, tough and straight, with a flick of the hand, can make a sound, while the fake dollar is without any sound.
5, color identification: the positive characters, images, text, lace, etc. of the real dollar are printed with black gravure ink containing magnetic substances, which is bright and eye-catching, and the fake dollar is printed with inferior ink, and its color is greatly contrasted with that of the real dollar.
6, character portrait identification: real dollar character portrait eyes piercing, while fake dollar character portrait eyes dull, its character lines blurred.
7, the United States issued a new banknote, than the old version of the banknote to add a number of advanced security features. It can be identified from the following aspects:
(1) Engraving intaglio printing
The portraits, buildings, borders and denomination figures on the front and back of the US dollar are all printed with engraved intaglio plates, which have an obvious concave and convex feeling when touched by hand. After 1996, the dollar's portrait was larger and more vivid.
(2) Fully buried safety wire
Starting with the 1990 edition, the $5 to $100 bills included an all-text security line. The security line is printed with the words "USA" and the denomination numbers of Arabic or English words. The 1996 version of the $50 and $20 safety line also added the American flag. The 1996 version of the dollar's safety line is also a fluorescent safety line, which appears in different colors under ultraviolet light, and the 100, 50, 20, 10, and 5 dollar safety lines are red, yellow, green, brown, and blue, respectively. A safety line (plastic strip) is embedded in the paper to the right of the portrait, and the words "USA50" and a small flag can be seen continuously against the light, and the safety line has yellow fluorescence under the purple light.
(3) Fixed head watermark
The 1996 edition of the dollar paper included the same fixed watermark as the face image, but the $1 and $2 were not watermarked.
(4) Light variable denomination numbers
The denominations in the lower right corner of the front face of the 1996 $100, $50, $20, and $10 are printed in photocommutation intaglio and appear green when viewed perpendicular to the face of the bill, or blue when tilted at an Angle.
The 2006 edition of $50, $20, and $10 denominations in the lower right corner of the front face are printed in light-varying ink ingravure and appear gold when viewed perpendicular to the face of the bill, or green when tilted at an Angle.
8. The color version of the $100 issued in 2013 has a dynamic blue security line in the middle. Moving the bill shows that the numbers "100" and "Liberty Bell" in the security line move up and down and can change the pattern.
The US Dollar Index,
USDX
It's similar to the one that shows the overall state of U.S. stocks
The Dow Jones Industrial Average
(Dow Jones Industrial Average), the dollar index shows the composite value of the U.S. dollar. A measure of the strength of various currencies.
Surprisingly, the dollar index comes not from the CBOT or the CME, but from the New York Cotton Exchange (NYCE). Founded in 1870 by a group of cotton merchants and intermediaries, the New York Cotton Exchange is the oldest Commodity Exchange in New York and the most important in the world
Cotton futures
With the options exchange. In 1985, the New York Cotton Exchange established a financial department, officially entering the global financial commodities market, the first launch is
Dollar index futures
.
The foreign currencies used in the USDX and the weights with
United States Federal Reserve
The dollar's trade-weighted index is the same. Because the USDX is only based on the forex quote indicator, it may vary due to the use of different data sources.
The USDX is calculated by reference to the geometric weighted average of the change in the exchange rate of 10 major currencies against the US dollar in March 1973, and measures its value against a base of 100.00 points, such as the 105.50 point quote, which represents a 5.50% increase in value since March 1973.
March 1973 was chosen as the reference point because it was a historic turning point in the foreign exchange market, when major trading nations allowed their currencies to float freely against each other's currencies.
The agreement, reached at the Smithsonian Institution in Washington, represents a victory for free trade theorists. The Smithsonian agreement replaced the unsuccessful system of fixed exchange rates agreed at Bretton Woods in New Hampshire in 1944.
The impact of the US dollar on the gold market mainly has two aspects, one is that the US dollar is in the international gold market
Quoted currency
Therefore, it has a negative correlation with the gold price. If the value of the gold price itself does not change, and the dollar falls, then the gold price will show an increase in price; Another aspect is gold as an alternative investment vehicle for dollar assets. In fact, in the years before 2005, a major factor in the rising gold price was the sharp decline of the US dollar for three consecutive years.
From the historical data statistics of the past 30 years, the US dollar has maintained a negative correlation with gold of about 80%, and from the data of the past ten years, the correlation between the US dollar and gold from 1995 to 2003, the relationship between the US dollar and gold has become closer to -1%. Therefore, when we analyze the trend of gold price, the change of the US dollar exchange rate is an important reference.
Usually we analyze the trend of the US dollar is the US dollar index, the US dollar index is a comprehensive reflection of the exchange rate of the US dollar in the international foreign exchange market indicators, used to measure the US dollar pair
Basket of currencies
The degree of exchange rate change. It measures the strength of the dollar by calculating the combined rate of change of the dollar and a selected basket of currencies, thereby indirectly reflecting the competitiveness of the United States' exports and changes in the cost of imports. If the dollar index falls, it means that the dollar has depreciated against other major currencies. The calculation principle of the dollar index futures is based on the amount of trade settlement between major countries in the world and the United States, and calculates the overall strength of the dollar in a weighted way, with 100 as the strength line. After the launch of the euro on January 1, 1999, the subject matter of this futures contract was adjusted from ten countries to six countries, and the euro also became the most important currency with the largest weight, its weight reached 57.6%, so the fluctuation of the euro has the greatest impact on the strength of the US dollar index.
Euro 57.6
Jpy 13.6
£11.9
Canadian Dollar 9.1
Swedish Kron4.2
CHF 3.6
The dollar index USDX is calculated using the weighted geometric average of changes in the exchange rates of six currencies against the dollar in March 1973. Measure its value on the basis of 100.00. The quotation of 105.50 refers to a 5.50% increase in its value since March 1973.
March 1973 was chosen as the reference point because it was a historic turning point in the forex market. Since then, major trading nations have allowed their currencies to float freely against the currencies of other countries. The agreement, reached at the SmithsonianInstitution in Washington, represents a victory for free-trade theorists. The Smithian Agreement replaced the unsuccessful system of fixed exchange rates reached at BrettonWoods in NewHampshire some 25 years earlier.
The current USDX level reflects the dollar's average relative to the 1973 benchmark. The dollar index has been as high as 165 points and as low as below 80 points. This change characteristic has been extensively compared with the futures stock index in terms of quantity and rate of change.
On December 21, 2023 local time, the latest issue of the "RMB Tracking Monthly Report and Data Statistics" released by the Society for Worldwide Banking Financial Telecommunication (Swift) shows that in November 2023, in the global payment currency ranking based on amount statistics, The top five global payment currencies based on the amount of money are the US dollar, the euro, the British pound, the renminbi and the Japanese yen.
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