The US dollar always caused genuine interest in people of all countries as proved as reliable international currency. The word dollar comes from the German word “thaler”, the medieval coin which appeared in Germany in 1519. The name was assigned to large silver coins. Originally the peso which was minted in the American colonies of Spain became the most widespread coin of this type. Peso often called “the Spanish dollar”.
There are some emergence versions of the well-known dollar sign – $. One of them symbol emergence is connected with peso. This sign was for the first time used for registration of bank notes in 1732. It appeared on the Spanish peso which were coined in Mexico City and addressed in North American colonies of Spain. Two vertical lines were treated as the Pillars of Hercules – two columns, or rocks which, on the legend, Hercules erected at the edges of the Strait of Gibraltar in memory of one of the feats. As for the letter “S”, it symbolized the waves washing these columns rocks. The symbol represented power of the Spanish crown. Dollar is an international currency that’s why it is used all over the world. Sometimes people suffer from lack of money and in this case they command the service of speedy loans. Payday cash helps them not to make both ends meet and live normally till the next salary.
In 1933 the dollar was for the first time devaluated for 41% because of “the great depression” in hope to stimulate an economic recovery and to put an end to unemployment. From this point the troy ounce of gold changed already for 35 dollars.
After World War II the superstate role was assigned to the USA which took dominant positions in the economy of the European countries disorganized as a result of war. As a result at monetary and financial conference of the United Nations Organization in Bretton Woods in 1944 under pressure of the USA the “dollar” standard – the world currency system based on domination of dollar was approved.
The dollar is the only currency converted in gold based of currency parities, the prevailing international payments, currency of intervention and reserve assets. According to Marshall plan, to the destroyed Europe the stream of the American money rushed. The economy of the European countries weakened by war couldn’t resist to currency expansion of the USA. And as a part of gold and foreign exchange reserves of the central banks the dollar borrowed more and more place, after all from them as was considered then, always there was an opportunity to exchange the American currency for gold at the fixed price. If you want to know more about dollar history you may surf the Internet but if you need this money you may easily take a payday loan online without taking any efforts at all.
Today’s economic situation of the USA can be characterized as promising on restoration. The gross domestic product growth supported by the latest quite positive data from labor market removal of deflation threat, the increased activity in the sphere of production and consumption, the most active growth of the American stock market give the grounds to believe that the economy of the United States started overcoming crisis. First of all it gives a reason of interest rates increase that, undoubtedly, will cause “rise in price” of dollar and will give an impetus it to new growth.
In the conclusion it would be desirable to note that, despite so long history of currency and its recognition by the international currency, it is lawful to say today that time when the dollar was the only world currency, ended. The world financial system entered in the XXI century with three world currencies – dollar, euro and yen that in the long term can lead to serious changes in the world financial market.