Federal Reserve System
The Federal Reserve System (also called the Federal Reserve or just the Fed) is the central banking system of the United States of America. The role of central banks is to preserve the value of money by keeping inflation low and stable. They do this by controlling the interest rate at which banks can borrow.
Interest rates, inflation, and exchange rates are all intrinsically linked. When the Fed manipulates interest rates this impacts both the inflation in the US and also the relative value of the US dollar compared to other currencies.
Fed Recent Interest Rate Decisions:
At its July meeting the Federal Reserve raised the target range 0.75% to 2.25%-2.5%, the fourth consecutive rate hike, and pushing borrowing costs to the highest level since 2019.
The Fed officials also stated that they expected to continue raising rates to slow the most rapid increase in inflation in the US for decades.
Read our guide to the Relationship between Interest Rates and Currencies.
Exchange rates published by Central Banks such as the Federal Reserve are the latest interbank mid-market exchange rates, here are some of the most popular USD exchange rates:
You Can Save Money when you Compare Federal Reserve Exchange Rate Margins & Fees
The below comparison table makes it easy to calculate the Total Cost you are being charged on your currency transaction versus 
Federal Reserve market mid-rates. It is easy to calculate any savings available from popular market-leading FX providers.
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