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However, semi-dollarization also exists in a few other countries where the U.S. dollar is recognised as legal tender alongside another currency, and unofficial dollarization exists in many areas where the U.S. dollar is widely used and accepted-although it is not recognised as legal tender. [6]
Many Canadian merchants close to the border, as well as large stores in big cities and major tourist hotspots in Peru also accept U.S. dollars, though usually at a value that favours the merchant. In Cambodia, US notes circulate freely and are preferred over the Cambodian riel for large purchases, [27] [28] with the riel used for change to ...
Costa Rica Dominican Republic Ghana Philippines Romania Uzbekistan Argentina Laos Mauritania Mozambique Switzerland Solomon Islands South Sudan Tunisia Zambia ; Pegged exchange rate within horizontal bands (1) Morocco ; Other managed arrangement (12)
La Rioja made its own currency to boost the local economy after the national government cut cash transfers to provinces amid sky-high inflation.
crawling peg to USD Nicaragua: Nicaraguan córdoba: NIO: Central Bank of Nicaragua: crawling peg to USD Costa Rica: Costa Rican colón: CRC: Central Bank of Costa Rica: float Panama: US dollar / Panamanian balboa: USD / PAB: Federal Reserve Bank / National Bank of Panama: 1.00 PAB = 1.00 USD Colombia: Colombian peso: COP: Banco de la República ...
A currency is a kind of money and medium of exchange.Currency includes paper, cotton, or polymer banknotes and metal coins.States generally have a monopoly on the issuing of currency, although some states share currencies with other states.
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. [1]Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe.
All the figures below have been converted to U.S. dollars, as different countries report data in different currencies. The U.S. dollar equivalents have been calculated using currency exchange rates as well as the gold price at the reported date. Not all countries keep gold as reserves, to avoid physical storage costs and the risks associated ...