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What is US Dollar

United State of America's official currency is called US Dollar or US $ or $ or USD. Like Indian Rupee, it is used for sale and purchase of goods and services in national and international business. One of advance feature in US dollar that it is being used by other countries as their official currency. These countries are using US Dollar as their official currency through dollarization. It helps them to save from currency crisis.

Before independence of United state of America, there was not any existence of US dollar. All trade in America through colonies pounds before America's independence. After independence of USA in 4th july 1776, US Dollar was declared as official currency of USA on the basis of Spanish dollar. One dollar's 100th part (1/100) is called cent. Main printed denomination of US dollars are following.

1 Dollar


2 Dollars
5 Dollars
10 Dollars
20 Dollars
50 Dollars
100 Dollars  

In above list, there is no 500 dollars or 1000 dollar printed note in USA. So, there is less change of collecting black money which is the main case in India because after using Rs. 500 and Rs. 1000 note, it became easy to collect and use of black money. 

Exchange Rate of of US Dollar with Indian Rupee

Years  US Dollar  Indian Rupees
1970 1 08
1980 1 12
1990 1 31
2000 1 47
2005 1 44
2010 1 45
2013 1  65

From above table, we can see that US Dollar's value is increasing fastly when we compare the exchange rate with India rupee. This report clears our doubts also. Within 40 years, economy of USA has developed due to hard work, trust, honesty, truth, Enthusiasm and positive attitude of American peoples. Within 40 years, economy of India has gone downward due to laziness, distrust, corruption, dishonesty,  Nostalgic thinking and negative attitude. We all Indians should get lesson from development of USA economy and change our thinking. When USA people can think big and show their magic in above table, then why can Indian people not think big for developing their economy. Because this is the only way to increase the value of Indian rupee. 

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Accounting Education: What is US Dollar
What is US Dollar
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Accounting Education
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