which of these statements most accurately describes currencies in north america?
Which of these statements most accurately describes currencies in North America?
Answer:
Currencies in North America are diverse due to the number of countries on the continent. The most accurate statement about currencies in North America is that the primary currencies used are the US Dollar (USD) in the United States, the Canadian Dollar (CAD) in Canada, and the Mexican Peso (MXN) in Mexico.
The United States Dollar is the most dominant and widely used currency in North America. It is the official currency of the United States and is not only used in the country but is also accepted in many other parts of the world. It is symbolized by the sign “$” and the currency code USD.
The Canadian Dollar, denoted by the symbol “$” with the code CAD, is the official currency of Canada and is also used as a reserve currency by many central banks worldwide due to the stability of the Canadian economy.
The Mexican Peso is the official currency of Mexico and is represented by the symbol “$” with the currency code MXN. While these are the primary currencies in North America, other countries and territories on the continent may use their respective currencies.