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US Dollar (USD) | Currency Rates and Info | XS

Learn about the United States Dollar (USD), its symbol $, and its role in the global economy. Get currency info, exchange rates, and detailed insights.

Overview

The U.S. Dollar (USD) is the official currency of the United States and its territories. It is divided into 100 cents and is a free-floating currency, meaning its value is set by global supply and demand. The dollar is the most important currency in the world, widely used in trade, finance, and as the main reserve currency held by central banks.

Role in the Economy
  • Economic Position: The United States has the largest economy in the world.

  • Key Drivers: The economy is driven by services (such as finance, healthcare, and technology), manufacturing, and natural resources.

  • Global Trade: The U.S. Dollar is the most traded currency worldwide and is the standard for pricing key commodities like oil and gold.

  • Memberships: The U.S. is part of the WTO, IMF, World Bank, G7, G20, and NATO.

  • Imports and Exports: Imports include consumer goods, electronics, machinery, and vehicles. Exports are led by aircraft, technology, agricultural products, and financial services.

  • Economic Outlook: The dollar is considered stable and reliable, supported by Federal Reserve policies and strong global demand.

Historical Background

Before the U.S. Dollar, the country used foreign coins like the Spanish dollar and the British pound. The dollar was officially created in 1792 with the Coinage Act, first backed by gold and silver. After World War II, it became the main global reserve currency under the Bretton Woods system. In 1971, the U.S. ended the gold standard, making the dollar a free-floating currency. Since then, it has remained the world’s leading currency in trade and finance.

Currency Profile

Symbol

$


Nicknames

Buck, Greenback


ISO 4217 Code

USD


Central Bank

Federal Reserve System (The Fed)


Subunits

Cent = 1/100


Denominations

Banknotes: $1, $2, $5, $10, $20, $50, $100 / Coins: 1¢, 5¢, 10¢, 25¢, 50¢, $1


Usage

Used in the United States and its territories, and officially adopted in countries like Ecuador, El Salvador, and Panama. It is also the main reserve currency worldwide.


Peg/Floating System

Free-floating