The US Dollar is the world’s most dominant reserve currency. In 2014 the US Dollar was 63.1% of the world’s currency reserves. This allows the United States to borrow and import more cheapily than other countries as there is no requirement to exchange one currency for another.

Central banks and other large financial institutions across the world hold US Dollar reserves which they can use to influence their own exchange rate or to pay off international debt. Crude oil, gold and other commodities are usually priced in US Dollars because it is the world’s dominant reserve currency and therefore removes exchange rate risk.

The US Dollar is the official currency of United States of America. The ISO 4217 currency code for the US Dollar is USD.

US Dollar Exchange Rate History Chart - Pan & Zoom 30-365 days (GBPUSD)