United States Dollar_flag

United States Dollar

The United States dollar, symbolised as USD or $, is the official currency of the United States. The Federal Reserve System, often referred to as the 'Fed', manages and issues the USD.

The US Dollar was established by the Coinage Act of 1792, which regulated the coinage of the United States. The USD has been a decimal currency since its inception, and in 1971 it shifted from the gold standard to a fiat currency, allowing the Federal Reserve to adjust monetary policy more freely.



Exchange rate regime:Floating


This is one of the most traded currency pairs in the world. Changes in the economic indicators and monetary policies of the Eurozone and the US can cause fluctuations in this pair. It is also influenced by global risk sentiment.

Transaction types


Delivery date

T; T+1; T+2




Maximum maturity

24 months



Did you know?

United States' Monetary Policy


The Federal Reserve aims to maintain economic stability in the US by achieving maximum employment, price stability, and moderate long-term interest rates through its monetary policy.


The Federal Reserve uses several tools to manage monetary policy, including open market operations, the discount rate and reserve requirements. The most frequently used tool is open market operations, which involves the purchase and sale of securities in the market. The Federal Open Market Committee (FOMC) meets eight times a year to discuss and implement these policies.


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.

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Important information

Payments in USD to the United Sates

Key considerations to bear in mind


Payment instructions should contain the beneficiary's IBAN, name, and address.


Payment Processing Time

The time taken for a payment to reach the recipient's bank account can vary. Domestic transfers within the United States are typically processed quickly, while international transfers may take a few business days. Consider the processing time when planning your payment to ensure timely delivery. The iBanFirst Payment Tracker can help you track those payments, and ensure a smooth and efficient payment experience.


Fees and Charges

Banks and financial institutions may apply fees and charges when processing international payments. These fees can vary, so it is advisable to check with your bank to understand the charges associated with your transaction. Check out iBanFirst’s Savings Calculator to estimate how much you could save on your next international payment.

Keep in mind

Bank holidays

These holidays can impact the operation of financial markets, including forex and stock exchanges. Therefore, traders and investors usually keep a close eye on these dates. If the 4th of July is on a Saturday, it's celebrated on Friday. If it falls on a Sunday, it's celebrated on the Monday. If Christmas Day falls on a Saturday, it's observed on Friday. If it's on a Sunday, it's observed on Monday.



New Year's Day






Veterans Day



Independence Day



Christmas Day

Martin Luther King Jr. Day

Third Monday in January

Presidents' Day

Third Monday in February

Memorial Day

Last Monday in May

Labor Day

First Monday in September

Columbus Day

Second Monday in October

Thanksgiving Day

Fourth Thursday in November


Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts.

iBanFirst S.A. is duly authorised and regulated by the National Bank of Belgium (under CBE number 0849.872.824) as a payment institution. It is a direct member of the SWIFT network and is certified to make payments throughout the SEPA zone. As a payment institution, iBanFirst S.A. only offers hedging solutions (forward, flexible forward and dynamic forward) connected to underlying payment transactions. iBanFirst S.A. does not offer options or any other financial instruments for investment or speculative purposes.