There are different hearsays or news that the US dollar is falling with the current economic crisis that they are experiencing today but the market for this country still continues without stop. The country’s foreign exchange market is run by the Federal Reserve Bank of the United States. If asked why the US dollar is the medium of the foreign exchange sector of the different countries, well, the answer is the US dollar has a high volume of liquidity, and not to mention, global recognition as well. Moreover, it is owned by one of the top countries which has a high class economy compared to other countries. The current competitor of the US dollar is the Euro because it ranks second as the most important international reserve currency.

In the heart of United States lies New York. New York is one of the top commercialized cities in United States and it contains one of the most important foreign exchange trading centers of the country. Many foreign businessmen or firms usually place their headquarters in New York in order to let their business or industry be regulated effectively and efficiently.

There are different firms in US that have been responsible for controlling the different businesses and trading firms. One is the United States Commodity Futures Trading Commission. The different transactions in the Forex market (US foreign exchange market) or over-the counter market is done with the direct involvement of the buyers and sellers. The Federal Reserve, on the other hand, determines the exchange rate of the US dollar. Also burdened by this responsibility is the United States Treasury Department. The Federal Reserve Bank formulates the policies of the foreign exchange trade in the country.

Different institutions have helped the US foreign exchange market to improve and grow gradually. Although the economic crisis is all over the world, the country is still pushing to improve its economic growth and is still one of the top progressive countries today.

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