Answer: Hello, the dollar sign is $; the Taiwan dollar sign is NT$.
$ mostly means money in Taiwan, although internationally it refers to U.S. dollars.
The United States of America, the Democratic Republic of El Salvador, the Democratic Republic of Panama, the Democratic Republic of Ecuador, the Democratic Republic of East Timor, the Democratic Republic of the Marshall Islands, the Federated States of Micronesia, and Kiribati
The legal tender of the Republic of *** and the Republic of Palau***.
The U.S. dollar banknotes in circulation are all versions of banknotes issued since 1929.
1. Gold content of the U.S. dollar In 1792, the U.S. dollar adopted the gold and silver bimetal system. According to the coinage act promulgated that year, one U.S. dollar was equivalent to 371.25 grains (24.057 grams) of pure silver or 24.75 grains (1.6038 grams) of pure gold.
until 1873.
One US dollar is worth 24.057 grams of silver, which is approximately equivalent to one Spanish silver dollar.
Because the U.S. government rarely minted one-dollar coins, Spanish silver dollars had been one of the main currencies in circulation in the United States before the Civil War. U.S. official and private banks also used Spanish silver dollars as reserves. Most Americans exchanged banknotes for Spanish silver dollars.
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After the first U.S. Treasury Secretary took office, the U.S. currency adopted the "gold standard."
By the outbreak of World War I in 1914, the gold standard system collapsed as countries stopped importing and exporting gold.
In the late period of the gold standard system, the gold content of the US dollar was 1.50466 grams.
On January 31, 1934, the gold content of one dollar was determined to be 13.714 grains (0.888671 grams).
The official price of gold increased from US$20.67 to US$35 per ounce.
By 1934, when the U.S. dollar devalued, the U.S. government gradually took back all kinds of banknotes issued before 1922.
The devalued U.S. dollar cannot be redeemed, and only foreign central banks can redeem gold from the United States at the official price.
On December 18, 1946, the International Monetary Fund officially announced that the gold content of the US dollar was 0.88867 grams.
Later, as the United States continued to run a deficit in its international balance of payments, it led to serious inflation and deepened the dollar crisis.
On August 15, 1971, U.S. President Nixon announced the devaluation of the U.S. dollar and stopped converting the U.S. dollar into gold. The Bretton Woods system began to collapse. In order to overcome the chaos in the international financial market, major capitalist countries held repeated consultations and finally reached an agreement in December 1971.
Smithsonian Institution Agreement.”
Its main contents include: the US dollar devalued against gold by 7.89%, the official price of gold increased from US$35 to US$38 per ounce; the exchange parity range expanded from 1% to 2.5%, the gold content of the US dollar depreciated to 0.818513 grams, and the "Special Drawing Rights"
"The price ratio dropped from the original 1:1 to 1.08571 US dollars, which is equal to 1 "Special Drawing Rights".
However, these measures also failed to prevent the deterioration of the US balance of payments deficit and dollar crisis.
On February 12, 1973, the US dollar devalued again by 10%, the gold content was reduced to 0.73662 grams, and the official price of gold increased to US$42.22 per ounce.
The price of the Special Drawing Rights depreciated to 1.20635 US dollars, equal to 1 "Special Drawing Rights".
European countries and other major capitalist countries have withdrawn from the fixed exchange rate system. The fixed exchange rate system has completely collapsed, and the US dollar exchange rate has become floating.
At this point, the U.S. dollar no longer has legal gold content.