USD, currency code: USD; Symbol: USD) is the legal tender of the United States, El Salvador, Panama, Ecuador, East Timor, Marshall Islands, Kiribati and Palau. Dollar banknotes in circulation are all versions of banknotes issued since 1929.
1792 appeared after the passage of the American mint act. At present, the issuance of US dollars is controlled by the Federal Reserve system. Starting from 19 13, the United States established the federal reserve system and issued federal reserve bonds. More than 99% of the banknotes in circulation are federal reserve notes.
The competent department for issuing US dollars is Congress, and the Federal Reserve Bank is responsible for the specific issuance business. After World War II, continental European countries reached an agreement with the United States to use US dollars for international payments. Since then, the dollar has been widely used as a reserve currency in countries outside the United States, and eventually became an international currency.