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The dollar is the unit of currency of the United States. It is normally abbreviated to the dollar sign $, or alternatively US$ to distinguish it from other dollar-denominated currencies. The U.S. dollar is divided into 100 (equal) cents.
Adopted by the Congress of the Confederation of the United States on July 6, 1785, the U.S. dollar today is the most-used currency in the world. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. In 1995, over US$380 billion were in circulation, of which two-thirds was outside the United States. By 2005 that figure had doubled to nearly $760 billion with an estimated half to two-thirds being held overseas, which is an annual growth of about 6.6%.
When currently issued in circulating form, denominations equal to or less than a dollar are emitted as U.S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. In the past, paper money was occasionally issued in denominations less than a dollar and gold coins were issued for circulation up to the value of 20 dollars.