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Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [14]: 250–1 [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this ...
Example of GNP-weighted nominal exchange rate history of a basket of 6 important currencies (US Dollar, Euro, Japanese Yen, Chinese Renminbi, Swiss Franks, Pound Sterling Bilateral exchange rate involves a currency pair, while an effective exchange rate is a weighted average of a basket of foreign currencies, and it can be viewed as an overall ...
Each currency typically has a main currency unit (the dollar, for example, or the euro) and a fractional unit, often defined as 1 ⁄ 100 of the main unit: 100 cents = 1 dollar, 100 centimes = 1 franc, 100 pence = 1 pound, although units of 1 ⁄ 10 or 1 ⁄ 1000 occasionally also occur.