Why do many countries use the “dollar” as their currency?

Why do many countries use the "dollar" as their currency?Edit
Like the Hong Kong, Singapore and Australia Dollar… And of course the US Dollar.

Answer by Jai Parimi:

Dollar is shortened 'Thaler' for 'Joachimsthaler' from 'German'.

Suggested Read: Origin & history of the Word Dollar

As per google,


From Thalers to Dollars

  • The word dollar is much older than the American unit of currency. It is an Anglicised form of "thaler", the name given to coins first minted in 1519 from locally mined silver in Joachimsthal in Bohemia. Thaler is a shortened form of the term by which the coin was originally known – Joachimsthaler.

Joachimsthaler

How US chose "Dollar" instead of "pound"?

  • Later on the English version of the name (dollar) was also applied to similar coins, not only ones minted in central Europe but also the Spanish peso and the Portuguese eight-real piece.
  • Those coins, particularly the Spanish peso or dollar circulated widely in Britain's North American colonies because of a shortage of official British coins.
  • That is why, after the United States gained its independence the new nation chose "dollar" as the name of its currency instead of keeping the pound.

How other countries chose "Dollar"?

Read Origin and history of the Word Dollar

Why do many countries use the "dollar" as their currency?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s