when did the us dollar became the world currency
Reserve currency By the end of the 20th century, the United States dollar was considered the world's most dominant reserve currency.[1] The world's need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year.[2]
History of the Canadian dollar During the mid-19th century, there was a policy disagreement between the British and the colonial governments. The British wanted all the colonies to continue to use sterling, to facilitate trade within the Empire. The Canadian colonies, both in the east and British Columbia, increasingly favoured linking their currencies to the US dollar, given the strong local trade links.[26] Eventually, the local trade won out and the Canadian colonies migrated to currencies linked to the US dollar.[3]