The United States dollar is the official currency of the United States and its overseas territories. It is a Federal Reserve Note and consists of 100 smaller cent units. The U.S. dollar is fiat money. It is the currency most used in international transactions and is the world's most dominant reserve currency.Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and the Turks and Caicos islands. A few countries use only the US Dollar for paper money, while the country mints its own coins, or also accepts US coins that can be use as payment in US dollars, such as the Susan B. Anthony dollar. Some cities around the world use the U.S. dollar as the de facto currency alongside their own. Some countries and territories who pegged its currency to the U.S. dollar seen the value of their currency rise, and now some currencies are at par with the U.S. dollar. While others have seen their currency maintain a higher value against the U.S. dollar.
