User:Jmckeon ie/sandbox
From Wikipedia, the free encyclopedia
Currency Substitution occurs when the inhabitants of a country use a foreign currency in parallel to or instead of the domestic currency.[1].
Currency substitution can be full or partial. Full currency substitution has taken place in small countries, mostly in Latin America, the Caribbean and the Pacific which are heavily dependent on the United States.[2] Partial currency substitution occurs when residents of a country choose to hold a significant share of their financial assets denominated in foreign currency
The major currencies used as substitutes are the United States dollar, the Euro, the New Zealand dollar, the Swiss franc, the Indian rupee, the Australian dollar Armenian dram, Turkish lira, the Israeli shekel, and the Russian ruble