The vast majority of the exports of less-developed countries and of the exports of Latin American countries are in-voiced using the U.S. dollar, whereas the exports of many of the neighbors of the European Union favor the euro.

Question

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The U.S. dollar is the dominant currency for international trade, especially for less-developed and Latin American countries due to its stability and global acceptance. Similarly, countries neighboring the European Union often use the euro for trade due to geographical proximity and economic ties with the Eurozone.

The Vast Majority of the Exports of Less-Developed Countries and of the Exports