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The dollar is the unit of currency in the US.

Is it suitable to omit the first "The" ??
Can I add "the" before the word " currency "?????
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No.

No.
So WHY????? Emotion: crying
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To use ' the ' in front of ' currency ' means that there is more than 1 currency in the US. Logically speaking, it is not right since this is not the case and only 1 single currency applies to 1 country onlyEmotion: smile
There's only one kind of currency and that's the dollar. Then why do we put "the" before "dollar" ?????
Using ' the ' to the dollar to single out this particular unit of currency from among currencies used around the world. In fact, without ' the ' is still acceptable, though because there is no such strong necessity to do so.

eg. Dogs are a faithful animal.

eg. The dogs are a faith animal.

Both are acceptable, the only difference is that the second sentence used to compare dogs with other animals.
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You can't omit the first "the" (or "a") in front of "unit" since "unit" is a countable noun in singular form. The same goes for "dollar".

There is no reason (at least none that I can discover) for or against a "the" before "currency". However, the common expression is "the unit of currency".

That said, the words "unit of" are expendable and may even be misleading.

Expendable:

"The dollar is the currency of the US" is 100% accurate.

Misleading:

Technically, the units of currency of the US are dollars and cents. The original sentence ignores cents.
" the dollar " the value of the US dollar, used in comparing the values of different types of money from around the world

The above sentence is from ' Cambridge online dictionary 'Emotion: smile. It seems right that ' the ' is immovableEmotion: smile
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