What is the united states currency based on?

Answer The United States Constitution (Section 10) requires that U.S. money be made of gold or silver. The U.S. Coinage Act of 1792 provided for the creation of the U.S. Mint and defined by statute that o... Read More »

Top Q&A For: What is the united states currency based on

Is United States currency still based on the gold standard?

In 1971 Richard Nixon ended the gold standard, ending the convertibility of the dollar into an equal amount of gold. This action was part of a series of measures taken to curb inflation.Source:"Gol... Read More »

What is the worth of United States currency converted to Australian currency?

As of April 2010, the exchange rate for the Australian dollar is 1.07356 dollars to 1 United States dollar. For Example 100 U.S. dollars equals about 107.35 Australian dollars. However, exchange ra... Read More »

What is the currency of the united states?

The official currency of the United States is the U,S, dollar. It is printed in denominations of $1, $2, $5,$10,$20, $50 and $100. The largest denomination ever produced was the $100,000 bill, used... Read More »

What is the currency called in the United States?

The United States has always referred to its currency unit as the dollar, but that doesn't mean the familiar green-colored notes have been in use for the nation's entire existence. In fact, the mod... Read More »