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 November meeting the Federal Reserve raised its short-term rate to a range of 3.75 per cent to 4 per cent to combat surging inflation, this is the highest level for this key interest rate in 15 years.
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:
US dollar to Japanese yen
US dollar to Canadian dollar
Canadian dollar to US dollar
US dollar to Euro
US dollar to Mexican peso
US dollar to Indian rupee
US dollar to Pound Sterling
US dollar to Australian dollar
Pound Sterling to US dollar
Euro to US dollar
US dollar to Philippine peso
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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We also compare popular bank exchange rates