Available Currency Pairs
Did You Know?
- The Federal Reserve of the United States (FED) is the central bank of the USA. It is in charge of the monetary policy of the country. Its main objectives, set by the US Congress, are to maximise employment and promote price stability (low inflation); all within a framework of moderate long-term interest rates.
- Price setting method: the exchange rate is floating because the value of the USD in relation to other currencies is determined solely by the law of supply and demand.
Features and highlights
- The dollar is the world’s reference currency, used as a basis for listing on many markets (commodities, industries, etc.), and also it is the main reserve currency of many countries’ central banks.
- The decisions taken by the FED therefore have an impact on all monetary policies in most countries of the world.
- As many important currencies are pegged to USD (AED, SAR, HKD, KWD, ...), the USD is de facto the currency for an economic area much larger than just the US.
- The EUR/USD is the most traded currency pair in the world, which explains why it is extremely liquid. In 2016, for example, it accounted for nearly one in four trades in the foreign exchange market.
There are no special restrictions on the purchase and sale of USD.
The IBAN format is not used in the USA. Payment instructions must contain:
- Either: the ABA routing number / Fedwire Routing number (9 digits), and the name, address and account number of the beneficiary
- Or: the BIC Code of the beneficiary bank, as well as the name, address and account number of the beneficiary.
Keep In Mind
When a holiday falls on a weekend, the next business day becomes a holiday