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Origins of the dollar sign</SPAN>

Main article: Dollar sign#Origin
The sign is first attested in business correspondence in the 1770s as a scribal abbreviation "ps", referring to the Spanish Americanpeso,[4][5] that is, the "Spanish dollar" as it was known in British North America. These late eighteenth- and early nineteenth-century manuscripts show that the s gradually came to be written over the p developing a close *****alent to the "$" mark," and this new symbol was retained to refer to the American dollar as well, once this currency was adopted in 1785 by the United States.[6][7][8][9][10]
An alternative and more plausible theory goes that the Dollar Sign ($) is directly borrowed from the sign used to represent the Spanish Peso which is in fact a "$" and is said to come from a representation of one of the Pillars of Hercules with a motto-ribbon as depicted in the Spanish Coat-of-Arms. In other words, the use of the $ sign is not of American origin, but is in fact of Spanish origin and the Americans merely borrowed the use of the $ symbol. All countries that use the Peso except the Philippines actually use the $ sign to represent their currency.