USD ($)
United States dollar
Current regime
Trading the USD between market participants and across borders is unrestricted and the market price is primarily determined without central bank intervention.
The USD is the world’s most important reserve currency.
Highly standardised payment processing.
History
The USD was introduced by the Coinage Act of 1792 to replace the Continental currency that had become worthless as a result of the hyperinflation related to the American Revolutionary War.
The USD was effectively floated on 15 August 1971 when President Richard Nixon suspended the convertibility of the USD to gold at the rate of $35 per ounce.
The USD accounted for 88.3% of global FX turnover in April 2019.
https://www.federalreserve.gov/
