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How did “$” come to represent US currency?

Christopher Beam writes an interesting piece on the origins of some world currencies.

The evolution of the US dollar’s “$” symbol is relatively complex compared to other well-known currency symbols:

We got the $ from the Spanish. In the late 18th century, merchants in the North American British colonies traded mainly with two currencies: the British pound and the Spanish dollar. When the United States adopted its own currency in 1785, it used Spanish money as its modelโ€”a deliberate “screw you” to the British.

Scholars have since theorized that the $ sign evolved out of an abbreviation for peso: The plural for pesos was “ps,” which eventually became “ps,” and then simply an “S” with a single stroke denoting the “p.”

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