the us dollar became part of a total fiat system in 1971.
the us dollar became part of a total fiat system in 1971.
when did the us dollar become part of a total fiat system?
1971
following the us dollar crisis of 1971 which ended the international bretton woods agreement of 1944, the us dollar devalued, but the bermuda dollar maintained its link to sterling. on 22 june 1972, the united kingdom unilaterally ended its sterling area based exchange control laws, hence excluding bermuda from its sterling area membership privileges. bermuda responded on 30 june 1972 by amending its own exchange control laws accordingly, such as to impose exchange control restrictions in relation to bermuda only. at the same time, bermuda realigned its dollar back to one-to-one with the us dollar and formally pegged it to the us dollar at that rate. as far as united kingdom law was concerned, bermuda still remained a member of the overseas sterling area until exchange controls were abolished altogether in 1979.
bermudian pound
section::::economies that use a dollar.









































section::::economies that use a dollar.:other territories that use a dollar.









































bullet::::- : east caribbean dollar









































bullet::::- : us dollar









































bullet::::- : us dollar (alongside the pound sterling)









































bullet::::- : canadian dollar (alongside the krone)









































bullet::::- : us dollar









































bullet::::- : east caribbean dollar









































bullet::::- : us dollar









































bullet::::- : canadian dollar (alongside the euro)









































bullet::::- : us dollar









































bullet::::- : us dollar









































section::::economies that use a dollar.:countries unofficially accepting a dollar.









































bullet::::- afghanistan: us dollar









































bullet::::- argentina: us dollar









































bullet::::- bolivia: us dollar









































bullet::::- cambodia: us dollar









































bullet::::- costa rica: us dollar
dollar