The US dollar is the most widely used currency in the world, with many countries using it as an official central bank tender. The reach of the greenback is far and wide, touching every corner of the globe. Many countries cannot survive or strengthen their GDP without the USD.
Many of them have officially adopted the US dollar, making it the norm for day-to-day transactions. The USD has saved many poor and developing countries from facing a financial collapse. Also, the currency is seen as a savior of the people as it gives stability in times of uncertainty and crisis.
Also Read: The Dollar Is Changing: What Investors Must Know About Its New Role
Here Are the Top 5 Countries Where the Dollar is Used (Apart From the US)
- Ecuador
In the year 2000, Ecuador banned its local currency, the sucre, and officially adopted the US dollar. The sucre was removed from circulation due to hyperinflation and a banking collapse. Moreover, the government made the USD the country’s official currency to regain investors’ confidence. The greenback stabilized their economy, leading to businesses and markets thriving.
2. El Salvador
Since 2001, El Salvador uses the US dollar as the only legal currency in the country. The move reduced inflation and gave a boost to trade and investments across the nation. However, from 2021, the government legalized Bitcoin, and the government now owns around 6,246 BTC to strengthen the backbone of its economy. The BTC is now worth $730.5 million as of September 2025.
3. Panama
Panama is the only country that has no central bank and has been using the US dollar since 1904, after it gained independence from Colombia. Also, Panama has its own currency, the balboa, but it’s only used in coins. For currency bills, the greenback is used, and for coins and small change, the balboa is used for transactions. However, the main currency in circulation is none other than the USD.