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 United States dollar In 1971, President Richard Nixon unilaterally ordered the cancellation of the direct convertibility of the United States dollar to gold. This act was known as the Nixon Shock.