usd - 10 things to know with detail
- 1. The USD, or United States Dollar, is the official currency of the United States and is used as the standard currency in international trade.
- 2. The USD is represented by the symbol $ and is divided into 100 smaller units called cents.
- 3. The USD is issued and regulated by the Federal Reserve, which is the central banking system of the United States.
- 4. The USD is the most widely used currency in the world and is often referred to as the world's reserve currency.
- 5. The value of the USD can fluctuate based on various factors such as economic indicators, political events, and market sentiment.
- 6. The USD is used in a wide range of transactions including buying goods and services, trading stocks and commodities, and investing in foreign currencies.
- 7. The USD is also used as a benchmark currency for many countries, with exchange rates typically quoted against the USD.
- 8. The USD is available in both paper currency and coins, with denominations ranging from $1 to $100 bills and coins ranging from 1 cent to $1.
- 9. The USD is widely accepted and easily exchangeable in most countries around the world, making it a convenient currency for travelers.
- 10. The USD plays a crucial role in the global economy and is a key factor in determining the value of other currencies and commodities.