Pounds GBP to US dollars USD

The US dollar is the formal currency of the USA as well as the de facto currency of numerous other states and regions. It is the most traded currency in the world, as well as the currency most held in reserve.

The US dollar is a relatively stable currency, which has meant that some countries have introduced it at times when their own currency is volatile. Some countries, such as Lebanon, unofficially use US dollars in conjunction with their own tender. Other territories – for instance the British Turks and Caicos Islands – officially use the US dollar on the exchange too.

Each US dollar is divided into 100 cents. Coins come in 1 cent, 5 cent, 10 cent and 25 cent. These are called penny, nickel, dime and quarter respectively. Fifty-cent coins and one-dollar coins are still minted, however are seldom used in day-to-day tender.

Notes come in 1, 2, 5, 10, 20, 50 and 100. A 20-dollar coin is minted but – like a 50-cent coin – not in popular circulation. Like with many currencies, higher-value banknotes are occasionally minted but not submitted into circulation.

The USA has a colourful slang around its currency, and it can help to know some if you’re going. The most common is, of course, ‘buck’ – a reference to the deer (buck) skin trading that once underpinned the fledgling American economy. A single US dollar is very occasionally referred to as a ‘simoleon’, while banknotes in general can be called ‘greenbacks’. Both of these uses are fairly arcane.

A penny is the same as it is in the UK, a ‘nickel’ is a 5-cent coin, a ‘dime’ is a 10-cent coin and a ‘quarter’ is a 25-cent coin. A $100 bill is occasionally called a ‘Benjamin’ owing to the image of Benjamin Franklin on them.

Officially, the countries and territories that use the US dollar are:

United States, American Samoa, British Virgin Islands, Ecuador, El Salvador, Guam, East Timor, Marshall Islands, Federated States of Micronesia, Palau, Northern Mariana Islands, Puerto Rico, Turks and Caicos, US Virgin Islands, Spanish Virgin Islands, British Indian Ocean Territory, Bonaire, Saint Eustatius and Saba.

There are also many more countries whose currencies are fixed to the US dollar, meaning that they can use US dollars in everyday transactions and on the exchange. Many, like the UAE, do not do so.

Buying USD from a Post Office branch is simple. You can simply go into one of our branches that sells foreign currency. There are thousands, just use our branch finder to find your most convenient. You can order online for collection or delivery. Or you can load US dollars onto a Travel Money Card.

It’s very simple, and the US dollar is one of two currencies (the other being the euro) with the option to collect your travel cash in branch two hours after you’ve ordered it.