What type of currency is the US dollar?

Since the founding of the Federal Reserve System in 1913 as the central bank of the United States, the dollar has been primarily issued in the form of Federal Reserve Notes. The United States dollar is now the world's primary reserve currency held by governments worldwide for use in international trade .

When did the US dollar become a reserve currency?

The U.S. dollar began to displace the pound sterling as international reserve currency from the 1920s since it emerged from the First World War relatively unscathed and since the United States was a significant recipient of wartime gold inflows.

What currency does Timor-Leste use?

The country's dollarization began in the 1980s and 90s, following years of civil war and unrest. ^ "Central Bank of Timor-Leste". Archived from the original on May 1, 2019. Retrieved March 22, 2017. The official currency of Timor-Leste is the United States dollar, which is legal tender for all payments made in cash.

Should the dollar be de-dollarised?

However, the dollar still dominates global trade. It is on one side of almost 90% of global forex transactions, according to Bank of International Settlements Data. De-dollarising would need countless exporters and importers, as well as borrowers, lenders and currency traders across the world, to independently decide to use other currencies.