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Foreign exchange reserves, also called Forex reserves, in a strict sense, are foreign-currency deposits held by nationals and monetary authorities.
The euro ( symbol: €; currency code: EUR) is the official currency of 20 of the 27 member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 euro cents. [6] [7]
The United States dollar ( symbol: $; currency code: USD; also abbreviated US$ to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.
- History
- Currencies That Use The Dollar Sign
- One Stroke vs. Two Strokes
- Use in Computer Software
- Other Uses
- See Also
Use for the Spanish American peso in the late 1700s
The symbol appears in business correspondence in the 1770s from Spanish America, the early independent U.S., British America and Britain, referring to the Spanish American peso, also known as "Spanish dollar" or "piece of eight" in British America. Those coins provided the model for the currency that the United States adopted in 1792, and for the larger coins of the new Spanish American republics, such as the Mexican peso, Argentine peso, Peruvian real, and Bolivian solcoins. With the Coinage...
Earlier history of the symbol
It is still uncertain, however, how the dollar sign came to represent the Spanish American peso. There are currently several competing hypotheses: 1. The most widely accepted theory holds that the sign grew out of the Spanish and Spanish American scribal abbreviation "ps" for pesos. A study of late 18th- and early 19th-century manuscripts shows that the s gradually came to be written over the p, developing into a close equivalent to the "$" mark. Oliver Pollock, a wealthy Irish trader and ear...
Less likely theories
The following theories seem to have been discredited or contradicted by documentary evidence: 1. In 1937, historian James Alton James claimed that the symbol with two strokes was an adapted design of patriot Robert Morrisin 1778, in letters written to Pollock. 2. In 1939, H. M. Larson suggested that the sign could derive from a combination of the Greek character "psi" (ψ)and "S". 3. A theory claims that the sign started off as a monogram of "US", with a narrow "U" superimposed on the "S"; the...
As symbol of the currency
The numerous currencies called "dollar" use the dollar sign to express money amounts. The sign is also generally used for the many currencies called "peso" (except the Philippine peso, which uses the symbol "₱"). Within a country the dollar/peso sign may be used alone. In other cases, and to avoid ambiguity in international usage, it is usually combined with other glyphs, e.g. CA$ or Can$ for Canadian dollar. Particularly in professional contexts, the unambiguous ISO 4217 three letter code(AU...
Use in the Portuguese Empire
In Portugal, Brazil, and other parts of the Portuguese Empire, the two-stroke variant of the sign (with the name cifrão; (Portuguese pronunciation: [siˈfɾɐ̃w] ⓘ) was used as the thousands separator of amounts in the national currency, the real (plural "réis", abbreviated "Rs."): 123500 meant "123500 réis". This usage is attested in 1775, but may be older by a century or more. It is always written with two vertical lines: . It is the official sign of the Cape Verdean escudo (ISO 4217: CVE). In...
In some places and at some times, the one- and two-stroke variants have been used in the same contexts to distinguish between the U.S. dollar and other local currency, such as the former Portuguese escudo. However, such usage is not standardized, and the Unicode specification considers the two versions as graphic variants of the same symbol—a typef...
Because of its use in early American computer applications such as business accounting, the dollar sign is almost universally present in computer character sets, and thus has been appropriated for many purposes unrelated to money in programming languages and command languages.
The symbol is sometimes used derisively, in place of the letter S, to indicate greed or excess money such as in "Micro$oft", "Di$ney", "Chel$ea" and "GW$"; or supposed overt Americanisation as in "$ky". The dollar sign is also used intentionally to stylize names such as A$AP Rocky, Ke$ha, and Ty Dolla $ign or words such as ¥€$. In 1872, Ambrose Bie...
China's was the only major world economy to experience GDP growth in 2020, when its GDP increased by 2.3%. [101] However, it posted one of its worst economic performances in decades because of COVID-19 in 2022. [102] In 2023, IMF predicted China to continue being one of the fastest growing major economies. [103]
Global military expenditure in 2022. This is a list of countries with the highest military expenditure in a given year. Military expenditure figures are presented in United States dollars based on either constant or current exchange rates. [1] Highest military expenditure, total.
The figures presented here do not take into account differences in the cost of living in different countries, and the results vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.
