United States Dollar

The US Dollar is divided into 100 smaller units known as cents. Coins are produced in denominations of 1 cent (penny), 5 cents (nickel), 10 cents (dime), 25 cents (quarter), 50 cents (half dollar) and 1 dollar. Banknotes or bills are issued in denominations of 1, 5, 10, 20, 50 and 100 dollars.

US banknotes have intricate designs featuring past American presidents and iconic national symbols, such as the bald eagle. For instance, the $1 bill showcases George Washington, the first President of the United States, while the $100 bill features Benjamin Franklin, one of the Founding Fathers. Each banknote incorporates sophisticated anti-counterfeiting measures, including color-shifting ink, watermark, security thread and raised printing.

As the world's leading reserve currency, the USD plays a crucial role in international trade and finance. Various factors can affect its value, such as the economic health of the US, Federal Reserve's monetary policy decisions, global political events, and economic conditions in other countries.

The US's position as the world's largest economy, coupled with its robust financial markets, contributes to the USD's strength and stability. Given the dollar's dominant role in the global economy, changes in US monetary policy can have significant ripple effects across global markets.

The Federal Reserve is responsible for regulating the USD. It oversees the country's monetary policy, maintains stability in the financial system and manages the money supply. US financial institutions are required to comply with stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These regulations are designed to prevent financial crimes and are overseen by the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of the Treasury.

The Federal Reserve also plays a role in enforcing these regulations by periodically reviewing the practices of member banks and providing guidance on best practices. Given the growing significance of digital transactions in the economy, regulators have prioritized cybersecurity and data protection in recent years.