student asking question

I've heard that several countries using the "dollar" as their currency. In this case, do they have the same value as the U.S. dollars?


Native speaker’s answer


The American dollar is the most widely held foreign currency around the world, but that does not mean its value is the same as other countries who also have the dollar as their currency. For example, the value of the Canadian, Australian, Jamaican, and Singaporean dollar differs. The value of the currency depends on a number of economic factors including inflation, economic growth, trade, employment, and so on, so while other dollar currencies might be on par with the American dollar at a point in time, it will always fluctuating.

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