National Dollar Day
August 8, Friday
History of the holiday
On August 8, 1786, the US Congress approved the creation of the United States monetary system based on the dollar. This date is considered the birth of the American dollar as the official currency. The dollar became the first currency in the world based on the decimal system, which simplified calculations and contributed to the economic growth of the young nation.
Significance of the dollar
The American dollar (USD) is one of the most influential currencies in the world:
* serves as a reserve currency for many countries;
* is used in international trade and investments;
* reflects the economic condition and financial stability of the USA.
Purpose of the holiday
* To mark the historical significance of the creation of the American monetary system;
* To increase financial literacy among the population;
* To remind about the value of money, saving, and wise spending;
* To encourage reflection on the dollar's impact on the world economy.
How it is celebrated
* Financial institutions publish educational materials about money and the economy;
* Educational institutions hold lessons dedicated to the history of currency;
* People share financial tips, save money, or set aside a "symbolic dollar";
* Facts about the dollar and the history of money are posted on social media.
Interesting fact
The first American dollar was a silver coin and had high value compared to today’s paper dollar. Today, George Washington — the first US president — is depicted on the dollar bill.