The currency used in the United States is called the United States Dollar, often abbreviated as USD. This money is the official currency of the United States, a country in North America. The USD is managed by the Federal Reserve System, which is in charge of controlling how much money is in circulation and its value.
The United States Dollar is divided into 100 smaller units called cents. You can find it in different amounts: 1, 5, 10, 20, 50, and 100-dollar bills. When you see the symbol “$,” it represents the US Dollar. It’s important to know that the US Dollar is accepted all around the world and is the most commonly used currency. Many central banks from different countries keep a reserve of US Dollars because it’s very reliable.
The value of the US Dollar can change depending on different things like how much trading is happening, how much money is being invested, and even the price of oil. For example, as of January 25, 2023, one US Dollar is equal to about 231 Indian Rupees (INR).