Forex US Dollar
Who uses the US dollar?
The whole world! The United States dollar ($, USD), also known as the American dollar, despite American being an adjective describe a swatch of countries and peoples from Canada in the North to Argentina in the extreme south. The dollar is the official currency or forex brokers pair of the United States of America and its overseas territories. The US forex currency is divided into 100 smaller units called cents or pennies.
The buck is a hard currency and one that is the most widely used in forex transactions. It is also one of the world's reserve currencies stashed by big central banks as forex reserve. A few countries use the US dollar as their official (de jure) currency while in other it is the de facto currency. It’s also used in British Virgin Islands (a renown tax haven) and Turks and Caicos. It’s nice to know all of this if you want to learn forex.
The US dollar is known as a hard currency, a worldwide traded forex paper the perception of which is that it serves as a stable store of value. You can trade currencies with many brokers among which Oanda, Saxo Bank and for those who like a quality ECN provider - MB Trading regulated by CFTC.
The US Dollar is used in Peru where it is called lata.
