US Dollar, the greatest realistic currency ever.
A Brief History
In about 1863, American congress authorised the issuing of paper note money. Due to the easy forging of this type of currency. Most of them believed that around a third of all of the US dollars floating around during that period of time was counterfeit. The US Mint began to start producing coins in 1792. Up until the year 1929 the individual banks were able to print and distribute their own National Bank Notes in line with the basic design approved by the Government. 1913 saw the Federal Reserve of America established and from there they started producing Federal Reserve Notes and in 1971, National Bank Notes were discontinued and no more were placed into circulation leaving just Federal Reserve Notes in circulation.
Modern Day US Currency
With hundreds of billions of dollars in circulation in America alone these days. They increased security measures are necessary. Therefore, the Government and Federal Reserve are continually developing newer and tougher security systems to ensure that the high risk of counterfeit US dollars is the lowest. In the early 1990’s, a security thread and micro-printing were introduced to help to stop the forging of notes. During the mid-1990’s through to the early 2000’s the US currency was given an overhaul in design putting even more security measures in place to help eliminate counterfeiting practices in the US. The US is currently undergoing yet another facelift to their money with a completely new currency to have been almost fully developed by 2026.
Recession Bounce Back
So just over 10 years ago, the world began to fall into what we now know as the Global Financial Crisis and it has taken some years for the world’s economy to bounce back. Still today, scars of this crisis still remain. Across the board, trillions of dollars were losing. Although the market has been slow to respond since the crisis, the world’s economy is recovering.
What does this mean for us Australians?
The Australian dollar is sitting higher than it has been for some time; this is wonderful for travellers, investors and the shopaholics but not so great for exporters. A strong Australian dollar means that for those dealing with countries secured by the US dollar gives Aussie’s more bang for their buck. Other countries that accept the US dollar are Ecuador, El Salvador, Zimbabwe, Marshall Islands, Micronesia, Palau, Turks and Caicos, East Timor, and the British Virgin Islands.
Time to travelwith US Dollar
It is definitely the time to travel to any of these countries to make sure that you get the most out of the strong Aussie dollar compare to the weaker US dollar. If you are in need of some more information about the US dollar and making the most of your money. Contact Value Exchange Services in Brisbane and one of their highly experienced team members will be able to help you fully grasp the financial position.
Are you ready for a holiday? Where to now?
As you now should know, this current financial position puts you in the perfect standing for a nice and relaxing holiday. The best part is ther is no limit to just visiting the US. The US is an amazing place to explore. Find out more here. But why just visit one place? Let us take a look at a few of the other countries that you can visit and take advantage of the US dollar.
El Salvador is the smallest country is South America between Guatemala and Honduras. It is famous for its incredible surfing conditions, stunning beaches and mountain scapes. A country that celebrates its distinctive rural culture, traditions, folklore, and music. It is also well famous for its high rates of crime. So ensure you follow any advice given to you prior to arrival in El Salvador.
Zimbabwe is South African country with a population of 16,000,000 people. In 2017 Emmerson Mnangagwa became president following a historic week. The military took control and Robert Mugabe resigned after 37 years in office. Mugabe was a long-time dictator who “ruined” his country. In 2008, he lost the election but somehow managed to keep his position as President due to manipulating the situation. Post Mugabe, Zimbabwe has been taking the necessary steps to fix his mistakes. In addition, to ensure that those who assisted in the corruption have been brought to justice. Because of this has meant a huge amount for the tourism industry. Moreover, you would kick yourself if you didn’t visit Zimbabwe even once. With such amazing sights to see such as Victoria Falls, Zambezi River and Batoka Gorge. These are only a couple of the incredible marvels you can set your sights on.
The British Virgin Islands are just off the coast of Costa Rica. They made up several islands each with their own discoveries to made. It is a sailor’s delight with stunning clear blue waters and loads of natural wonders to experience around the islands. It has lush green mountain views, rainforests and rum distilleries (for those of you who like the odd drop)! At the end of 2017 it battered by huge storms. However, it has made an incredible recovery and the locals are ready and waiting for you to come and stay.
These are just a couple of places you could discover and make the best of the Aussie dollar. Call or email Value Exchange Currencies today to discuss all of your monetary needs.