US DOLLAR RATES

US Dollar Rates are important for the economy, it is equal with the Euro, and possibly soon, well in some decades if 2008 estimates can carry on the Chinese currency, as the world currency and major for all big money people. The United States dollar (sign: $; code: USD) is the unit of currency of the United States; it has also been adopted as the official currency of some other countries. The U.S. dollar is normally abbreviated as the dollar sign, $, or as USD or US$ to distinguish it from other dollar-denominated currencies and from others that use the $ symbol. It is divided into 100 cents. Other nations besides the United States use the U.S. dollar as their official currency, a process known as official dollarization. For instance, Panama has been using the dollar alongside the Panamanian balboa as the legal tender since 1904 at a conversion rate of 1:1. Ecuador (2000), El Salvador (2001), and East Timor (2000) all adopted the currency independently. The former members of the U.S.-administered Trust Territory of the Pacific Islands, which included Palau, the Federated States of Micronesia, and the Marshall Islands, chose not to issue their own currency after becoming independent, having all used the U.S. dollar since 1944. Two British dependencies also use the U.S. dollar: the British Virgin Islands (1959) and Turks and Caicos Islands (1973). Some countries that have adopted the U.S. dollar issue their own coins: See Ecuadorian centavo coins and East Timor centavo coins. Not long after the introduction of the euro (€; ISO 4217 code EUR) as a cash currency in 2002, the dollar began to depreciate steadily in value.