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New Dollar Rate in Pakistan
New Dollar rate in Pakistan is Rs. 253.5 & Euro and Rs. 274 – Exchange Forex rates in Pakistan, daily updated … NZD New Zealand Dollar, NZD, 148.33, 149.53.
The history of the dollar as a currency dates back to the late 18th century, when the United States adopted the dollar as its official currency. The dollar was initially based on the Spanish dollar, which was widely used in international trade at the time.
In 1792, the Coinage Act was passed by the US Congress, which established the US dollar as the official currency of the United States. The dollar was initially pegged to the value of gold, with one dollar equal to 24.75 grains of pure gold.
Throughout the 19th century, the value of the dollar fluctuated due to various factors such as inflation, economic growth, and gold discoveries. However, the gold standard remained in place until the early 20th century.
In 1913, the Federal Reserve Act was passed, which established the Federal Reserve System, the central banking system of the United States. It was designed to stabilize the economy and the value of the dollar. The Federal Reserve set interest rates and controlled the money supply to influence the economy.
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