The US dollar is the official currency in the United States, and getting familiar with it is basic knowledge new settlers need for daily spending. This article introduces the US dollar and the American currency system.
What is the US dollar
The US dollar is the official currency unit of the United States, commonly denoted by the dollar sign. One dollar is divided into smaller units called cents. It is the currency used in all daily transactions in this country.
Getting familiar with the currency helps you spend, pay, and manage finances conveniently right from the start. This is basic but necessary knowledge.
Currency denominations
US dollar bills come in various denominations, from small to large. Coins also come in several types corresponding to smaller values. Getting familiar with the shape, color, and value of each type of money helps avoid confusion during transactions.
In practice, many transactions in the US use bank cards or electronic payments instead of cash. Still, knowing the denominations remains necessary for cash transactions.
Money usage habits
In the US, bank cards and cashless payments are very common. New arrivals should open a bank account early to use cards, which is both safer and more convenient than keeping a lot of cash.
You should refer to information about money and the Treasury Department’s website to learn more about the currency, while getting familiar with the denominations for convenient spending.
Summary
The US dollar is the official currency in the United States, divided into cents, with various banknote and coin denominations. Many transactions use cards and electronic payments. You should get familiar with the denominations and open a bank account early for safe, convenient spending.
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References
- U.S. Department of the Treasury — Currency: https://home.treasury.gov/
- USA.gov — Money: https://www.usa.gov/money
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