Straighten. The dollar diving led to a sharp drop in the dollar index, which in turn led to a sharp rise in the exchange rate of RMB against the dollar, the exchange rate of Euro against the dollar, gold, silver, crude oil and other futures assets. The US dollar is the legal tender of the United States of America, El Salvador, Panama, Ecuador, East Timor, Marshall Islands, Micronesia (Federated States of), Kiribati and Palau.