Countries that Use the US Dollar 2024

The US dollar is a form of currency, similar to the peso, euro, or rupee, and is the main form of currency in the United States. In addition, the US dollar is one of the world's most valuable currencies and is the world's most popular form of reserve currency, and so is often held in large amounts by the governments of other countries to facilitate international transactions and insulate against fluctuations in their own currencies.

Countries that Use the US Dollar:

Note: Entries marked with * are aligned with another country, but have chosen the US dollar as their currency. Zimbabwe counts the US dollar as official legal tender alongside several additional currencies, including the euro, the pound sterling, and the rand.

The US dollar is also frequently accepted in countries where it is not an official legal tender, but which are close enough to the US to attract many US tourists. For example, businesses in Mexico, Canada, Costa Rica, Honduras, and Peru are often more than willing to accept US dollars.

In addition, many countries and territories peg the value of their own local currency to that of the US dollar, exchanging it either 1:1 or at a different, but fixed exchange rate. These countries and territories include Lebanon, Hong Kong, Saudi Arabia, Grenada, and Aruba.

Countries with their own versions of the dollar

As with the peso and the pound, which exist in many forms around the world, the title "dollar" is given not only to US currency, but also to the currency of more than 20 additional countries and territories, including New Zealand, Liberia, and Hong Kong. As a rule, these currencies are referred to by their country names, such as Australian Dollar (AUD), which helps clarify that they are distinct currencies from the US dollar.

Countries That Use Non-US Dollars:

Note: Territories and dependencies of Australia and New Zealand also use the same currency.

History of the US dollar

The US dollar was adopted in the late 18th century. Previously, the Spanish dollar was used. The US Secretary of State, Alexander Hamilton, used the amount of silver in a Spanish dollar to define the US dollar. Each US dollar coin contained pure silver weighing slightly over 24 grams. Throughout the 19th century, non-silver metals were added to replace pure silver.

Today, coins valued at one US dollar or more are rarely seen, as the vast majority of coins have values of less than one dollar (1, 5, 10, or 25 cents). Amounts of a dollar or more are instead issued as paper bills, known formally as banknotes. Banknotes in US dollars are available in denominations of $1, $2 (rare), $5, $10, $20, $50, and $100. Bills of larger denominations were printed by the United States Treasury until 1945 and circulated until 1969. These banknotes included the values of $500, $1,000, $5,000, $10,000, and a $100,000 gold certificate that was unavailable to the public and used only for transactions between banks.

US Dollar Banknote Denominations:

Banknotes are often redesigned and reissued, typically to introduce new security measures such as watermarks, UV-reactive security thread, or color-shifting ink. The current update schedule for US banknotes plans to release an updated $10 bill in 2026, followed by the $50 in 2028, the $20 in 2030, the $5 in 2032, and the $100 in 2034.

The US dollar is divided into 100 cents, represented by a one-cent coin named the penny. The dollar also includes two lesser-known decimal units: The mill, which was equivalent to one tenth of a penny (.001 dollars), and the eagle, which was equivalent to ten dollars.

The mill was not issued as an official US government coin (though several states or local municipalities issued mill coins) and is fairly unknown to the general public, but is often used to compute property taxes, the prices of gasoline or electricity, and stockbroker fees. The eagle was issued as a series of gold coins: the quarter eagle ($2.50), half eagle ($5), eagle ($10), and double eagle ($20), each minted in various years from 1795 to 1933. The US Mint has also released a several different limited-run gold eagle coins (with significantly higher values) at various times since 1984.