National Dollar Day is observed in the United States on August 8 each year. It commemorates when the U.S. Congress established the U.S. monetary system in 1786. As you celebrate National Dollar Day 2023, we at LatestLY have bought together a collection of interesting facts about the U.S. dollar that you must know on this day. Euro Equal to the U.S. Dollar for First Time in 20 Years.

The U.S. dollar symbolises the nation's economic strength and stability, and National Dollar Day reminds us of the importance of sound financial management and responsible fiscal policies. It's a day to reflect on the role of money in society, the value of hard work, and the significance of responsible financial planning. Here are some interesting facts to know about the U.S. dollar.

Design Evolution

U.S. paper currency's design has undergone several changes over the years. In 1929, the size of the bills was standardised to the current dimensions. The design of the bills has evolved, featuring various historical figures, symbols, and monuments.

"All-Seeing Eye"

The "all-seeing eye" featured on the back of the one-dollar bill is a well-known symbol associated with the concept of divine providence. It's often linked to the idea of an overseeing and protective force. Why the Dollar's Dominance is Declining in the Middle East.

In God We Trust

The phrase "In God We Trust" first appeared on U.S. coins during the Civil War era and later became the official national motto of the United States in 1956. It's now a standard feature on all U.S. currency.

E Pluribus Unum

This Latin phrase, "Out of Many, One," is also found in U.S. currency. It reflects the idea of unity and diversity within the nation.

Greenback

The U.S. dollar is sometimes called the "greenback" due to the distinctive green ink on the back of the bills. The term originated during the American Civil War when the demand for money led to the issuance of paper currency.

These facts showcase the rich history, symbolism, and significance of the U.S. dollar in American culture and the global economy.

Wishing everyone a Happy National Dollar Day 2023.

(The above story first appeared on LatestLY on Aug 08, 2023 08:57 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).