North American Currency Union

A currency union is when different countries decide to use the same currency. North America is made up of three countries: the United States, Canada and Mexico. A North American currency union would mean that all three countries would use the same currency, like the U.S. dollar. That means you could buy things with the U.S. dollar in all three countries. It would also mean that money could easily move between the three countries without having to convert it from one currency to another.