# US Currency in other nations

**URL:** <https://boards.straightdope.com/t/us-currency-in-other-nations/235516>\
**Category:** Factual Questions\
**Created:** [March 21, 2004, 5:16am UTC](https://boards.straightdope.com/t/us-currency-in-other-nations/235516 "2004-03-21T05:16:55Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![drhess](https://avatars.discourse-cdn.com/v4/letter/d/94ad74/32.png) [@drhess](https://boards.straightdope.com/u/drhess)\
**Post date:** [March 21, 2004, 5:16am UTC](https://boards.straightdope.com/t/us-currency-in-other-nations/235516/1 "2004-03-21T05:16:55Z")

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I thought I read the other day that several poor nations have adopted the US dollar as their currency. Maybe El Salvador was one? Is this true and what are the effects?

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**Author:** ![ShibbOleth](https://avatars.discourse-cdn.com/v4/letter/s/848f3c/32.png) [@ShibbOleth](https://boards.straightdope.com/u/ShibbOleth)\
**Post date:** [March 21, 2004, 5:42am UTC](https://boards.straightdope.com/t/us-currency-in-other-nations/235516/2 "2004-03-21T05:42:33Z")

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Argentina used to accept US currency as tender at an exact one to one rate. I’m not sure how this was affected by the economic crash a couple of years back, but you’d just hand over a few dollars and the change was typically in Argentine Pesos. Very simple. I thought it was a scam at first, that when I went to exchange back that I’d lose, but it was 1:1 in both directions.

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**Author:** ![GorillaMan](https://avatars.discourse-cdn.com/v4/letter/g/50afbb/32.png) [@GorillaMan](https://boards.straightdope.com/u/GorillaMan)\
**Post date:** [March 21, 2004, 11:19am UTC](https://boards.straightdope.com/t/us-currency-in-other-nations/235516/3 "2004-03-21T11:19:25Z")

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The US$ is the official currency of East Timor. Basically because you need to build a nation before you can create a new currency for it.

It’s not only poor nations, but also those whose economy is intrinsically tied in with America’s - Bermuda and the British Virgin Islands are both British territories, but use their own Dollars which are tied 1-1 with the US$. US notes and coins are fully accepted in both.

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**Author:** ![Paul\_in\_Qatar](https://avatars.discourse-cdn.com/v4/letter/p/ccd318/32.png) [@Paul\_in\_Qatar](https://boards.straightdope.com/u/Paul_in_Qatar)\
**Post date:** [March 21, 2004, 11:51am UTC](https://boards.straightdope.com/t/us-currency-in-other-nations/235516/4 "2004-03-21T11:51:04Z")

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Panama uses US bank notes, but issues coins identical to the US ones in size and value.

And I will be back there next week! Home for vacation.