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US Dollar (USD) Exchange Rates on 04th February 2023 (04/02/2023)

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Exchange rates for US Dollar (USD)

Updated: 2023-02-04
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD GBP GBP 0.83 USD to GBP 1.2048 GBP to USD
USD USD BGN BGN 1.8121 USD to BGN 0.5519 BGN to USD
USD USD HRK HRK 7.0422 USD to HRK 0.142 HRK to USD
USD USD CZK CZK 22.0211 USD to CZK 0.0454 CZK to USD
USD USD DKK DKK 6.895 USD to DKK 0.145 DKK to USD
USD USD HUF HUF 359.6604 USD to HUF 0.0028 HUF to USD
USD USD KZT KZT 458.0248 USD to KZT 0.0022 KZT to USD
USD USD LVL LVL 0.6049 USD to LVL 1.6532 LVL to USD
USD USD MKD MKD 56.3737 USD to MKD 0.0177 MKD to USD
USD USD MDL MDL 18.769 USD to MDL 0.0533 MDL to USD
USD USD NOK NOK 10.153 USD to NOK 0.0985 NOK to USD
USD USD PLN PLN 4.3701 USD to PLN 0.2288 PLN to USD
USD USD RON RON 4.5307 USD to RON 0.2207 RON to USD
USD USD RUB RUB 70.6504 USD to RUB 0.0142 RUB to USD
USD USD SEK SEK 10.5391 USD to SEK 0.0949 SEK to USD
USD USD CHF CHF 0.9265 USD to CHF 1.0793 CHF to USD
USD USD TRY TRY 18.8199 USD to TRY 0.0531 TRY to USD
USD USD UAH UAH 36.9323 USD to UAH 0.0271 UAH to USD
Updated: 2023-02-04
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD ARS ARS 187.4291 USD to ARS 0.0053 ARS to USD
USD USD BOB BOB 6.9099 USD to BOB 0.1447 BOB to USD
USD USD BRL BRL 5.1525 USD to BRL 0.1941 BRL to USD
USD USD CAD CAD 1.3411 USD to CAD 0.7456 CAD to USD
USD USD KYD KYD 0.8333 USD to KYD 1.2 KYD to USD
USD USD CLP CLP 796.8493 USD to CLP 0.0013 CLP to USD
USD USD COP COP 4697.4972 USD to COP 0.0002 COP to USD
USD USD CRC CRC 560.3693 USD to CRC 0.0018 CRC to USD
USD USD DOP DOP 56.6271 USD to DOP 0.0177 DOP to USD
USD USD SVC SVC 8.7495 USD to SVC 0.1143 SVC to USD
USD USD FJD FJD 2.174 USD to FJD 0.46 FJD to USD
USD USD HNL HNL 24.652 USD to HNL 0.0406 HNL to USD
USD USD JMD JMD 154.4969 USD to JMD 0.0065 JMD to USD
USD USD MXN MXN 18.9676 USD to MXN 0.0527 MXN to USD
USD USD ANG ANG 1.8021 USD to ANG 0.5549 ANG to USD
USD USD PYG PYG 7307.9141 USD to PYG 0.0001 PYG to USD
USD USD PEN PEN 3.8273 USD to PEN 0.2613 PEN to USD
USD USD TTD TTD 6.7871 USD to TTD 0.1473 TTD to USD
USD USD UYU UYU 38.7127 USD to UYU 0.0258 UYU to USD
USD USD VEF VEF 2265262.7512 USD to VEF 0 VEF to USD
Updated: 2023-02-04
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD AUD AUD 1.4443 USD to AUD 0.6924 AUD to USD
USD USD BDT BDT 107.3482 USD to BDT 0.0093 BDT to USD
USD USD BND BND 1.3106 USD to BND 0.763 BND to USD
USD USD CNY CNY 6.7753 USD to CNY 0.1476 CNY to USD
USD USD INR INR 82.4917 USD to INR 0.0121 INR to USD
USD USD IDR IDR 15094.9469 USD to IDR 0.0001 IDR to USD
USD USD JPY JPY 131.1947 USD to JPY 0.0076 JPY to USD
USD USD MYR MYR 4.258 USD to MYR 0.2348 MYR to USD
USD USD MVR MVR 15.3504 USD to MVR 0.0651 MVR to USD
USD USD NPR NPR 130.9229 USD to NPR 0.0076 NPR to USD
USD USD NZD NZD 1.5813 USD to NZD 0.6324 NZD to USD
USD USD PKR PKR 275.5038 USD to PKR 0.0036 PKR to USD
USD USD PGK PGK 3.5243 USD to PGK 0.2837 PGK to USD
USD USD PHP PHP 53.6551 USD to PHP 0.0186 PHP to USD
USD USD SCR SCR 13.3189 USD to SCR 0.0751 SCR to USD
USD USD SGD SGD 1.3236 USD to SGD 0.7555 SGD to USD
USD USD KRW KRW 1247.8515 USD to KRW 0.0008 KRW to USD
USD USD LKR LKR 364.9936 USD to LKR 0.0027 LKR to USD
USD USD TWD TWD 29.981 USD to TWD 0.0334 TWD to USD
USD USD THB THB 33.3403 USD to THB 0.03 THB to USD
Updated: 2023-02-04
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD BHD BHD 0.377 USD to BHD 2.6528 BHD to USD
USD USD EGP EGP 30.1713 USD to EGP 0.0331 EGP to USD
USD USD HKD HKD 7.8478 USD to HKD 0.1274 HKD to USD
USD USD ILS ILS 3.4181 USD to ILS 0.2926 ILS to USD
USD USD JOD JOD 0.7094 USD to JOD 1.4096 JOD to USD
USD USD KWD KWD 0.3051 USD to KWD 3.2781 KWD to USD
USD USD LBP LBP 15020.7857 USD to LBP 0.0001 LBP to USD
USD USD OMR OMR 0.3839 USD to OMR 2.6048 OMR to USD
USD USD QAR QAR 3.641 USD to QAR 0.2746 QAR to USD
USD USD SAR SAR 3.7523 USD to SAR 0.2665 SAR to USD
USD USD AED AED 3.6731 USD to AED 0.2722 AED to USD
USD USD YER YER 250.4036 USD to YER 0.004 YER to USD
Updated: 2023-02-04
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USD USD DZD DZD 135.1507 USD to DZD 0.0074 DZD to USD
USD USD KES KES 124.7506 USD to KES 0.008 KES to USD
USD USD MUR MUR 45.4038 USD to MUR 0.022 MUR to USD
USD USD MAD MAD 10.1622 USD to MAD 0.0984 MAD to USD
USD USD NAD NAD 17.0903 USD to NAD 0.0585 NAD to USD
USD USD NIO NIO 36.5379 USD to NIO 0.0274 NIO to USD
USD USD NGN NGN 460.5408 USD to NGN 0.0022 NGN to USD
USD USD SLL SLL 19449.9278 USD to SLL 0.0001 SLL to USD
USD USD ZAR ZAR 17.4677 USD to ZAR 0.0572 ZAR to USD
USD USD TZS TZS 2338.9888 USD to TZS 0.0004 TZS to USD
USD USD TND TND 3.0405 USD to TND 0.3289 TND to USD
USD USD UGX UGX 3683.7996 USD to UGX 0.0003 UGX to USD
USD USD XOF XOF 600.1571 USD to XOF 0.0017 XOF to USD
USD USD ZMK ZMK 9001.1938 USD to ZMK 0.0001 ZMK to USD

United States Dollar (USD)

Sign $
1 US dollar is subdivided into 10 dimes, 100 cents or 1000 mills.

USD is the currency code for the United States dollar (USD), it is synonymous with US$, both of which are represented in accounting with the $ symbol. The USD is the the worlds largest reserve currency, the most used currency in currency pair trades, and the primary currency used in the United States of America and its territories. It is also the currency for the Turks and Caicos Islands as well as the British Virgin Islands, both of which are overseas territories of the United Kingdom.

Coins used:
- frequently used: 1¢, 5¢, 10¢, 25¢
- rarely used: 50¢, $1

Banknotes used:
- frequently used: $1, $5, $10, $20, $50, $100
- rarely used: $2, $500, $1,000, $5,000, $10,000, $100,000

Central Bank
Federal Reserve System
In addition to being the World's largest reserve currency the USD is officially used by 14 countries as their primary currency. This includes such countries as Panama, Ecuador, El Salvador, Puerto Rico, Guam, U.S. Virgin Islands, and American Somoa. In addition to these countries that use the USD as their primary currency, 14 other countries use it as their unofficial currency, these countries include Cambodia, Lebanon, Palau, East Timor, The Bahamas, and the Marshall Islands. There are also 23 more countries, not yet included in either of these categories that have officially pegged their local currency to the USD, these currencies include the Belize dollar, Lebanese pound, Saudi riyal, Jordanian dinar, United Arab Emirates dirham, and the East Caribbean dollar just to name a few.

The current circulation of the USD is just over 800 billion, a number just below the circulation of the euro which is currently 816 billion. The currency unit for the issuance of the dollar is set on 1/1000 increments in spite of the lowest denomination in issuance being the penny, valued at 1/100 of a dollar. This 1/1000 or measure in mills, is an internal unit of calculation and why many taxes, fees, and even some retail prices, depending upon these taxes and fees, are priced with to the third decimal place. The most common example is the price of automobile gasoline in the United States which is openly available and purchased daily by most Americans at a price listed to the thousandth of the dollar, for example a price $3.56 9/10 or $3.599.

The value of the USD was originally tied directly to the Spanish milled dollar when the United States Congress enacted the Coinage Act of 1982. Over time the USD evolved through many standards of value to its current state as a floating fiat currency. This evolution has occurred while its overall purchasing power has declined by more than 96.3% from 1774 through 2010. In other words, the equivalent basket of goods that $1 could purchase in 1774 would currently cost $33.34 in 2010 USD. This devaluation of the dollar is also referred to as price inflation which is measured by the United States Bureau of Labor Statistics and is known as the United States Consumer Price Index (CPI).

While initially anchored to the value of metals such as gold and silver, the untying of the USD to these "high powered money" standards began with the introduction of the United States Federal Reserve in 1913. The stated intent of the Federal Reserve at the time was to allow for currency elasticity through the ability to substantially impact the quantity of money within a short period of time. This effectively removed the USD from what was known as the gold standard and the Federal Reserve allowed for inflation as a way to hold together the economy during World War I, stabilized the dollar through the 1920's and in fact brought about deflation in the 1930's.

Toward the end of World War II with its sever price instability and seeing the need for stable currencies and the economic interconnectedness of nation states the Bretton Woods system was put into place. This put the USD back onto a strict interpretation of the gold standard and this was also one of the first instances in history where nation states fully negotiated and then voluntarily subjected themselves to an agreed upon collaboration between their currencies and their sovereign monetary policies. The euro and eurozone being a more recent example of this same type of collaboration, but through different means. Where Bretton Woods tied all sovereign member state's currencies to gold, the eurozone eliminated sovereign currencies replacing each nation's previous currency with the euro. This may have been a safeguard to ensure the long term adherence to the new currency and agreements, with all participants knowing that the Bretton Woods system disintegrated when member states unilaterally withdrew from the agreements of that time without repercussion. Knowing that sovereign subjection to a collaborative monetary policy does not always serve the economic or political interest of each state equally, the adoption of the euro assures that withdrawal from the system by each member is more difficult, having already exchanged their currency for the currency within the group system.

The withdrawal from Bretton Woods in 1971 under United states President Nixon effectively removed the USD from the gold standard, leaving it as a wholly fiat and floating currency tied to nothing more than the faith and credit of the United States. This withdrawal from Bretton Woods was instigated by the rise in government spending, lack of available gold supply to sustain Bretton Woods compliant convertibility, unforeseen economic growth, and the resultant devaluation of the dollar. The gold standard was limiting economic growth simply due to a lack of supply of gold. This lack finite supply increases the price, resulting in an economic cap, whereas a floating fiat currency allows for unlimited growth for as long and as much as the world is willing to accept the faith and credit of the nation backing the currency, in this case the United States government.

Once the USD was removed from the gold standard there was a time of severe challenges to central bank monetary policy. The dollar initially took a steep decline as markets adjusted to the new fiat status of the currency and in response to this decline the Federal Reserve resorted to increasing the money supply, mistakenly following the Phillips curve theory which correlated an increased money supply with growth. This increased money supply, along with other misguided policies of the time, led to high inflation and other serious economic consequences. This was stopped when Paul Volcker became Chairman of the Federal Reserve, the Phillips curve policies were abandoned, and a focus on price stability was instituted. This among many other economic and political changes stabilized the USD throughout the 1980's.

The important facts of note with regard to the USD is that its current state as a floating fiat currency, having only been in existence for 40 years, is still being examined and studied as to its long term viability and impact on the economy of the United States and the world. It was only a few decades before that Bretton Woods was established to stabilize and tie the currency down having been significantly altered just a few decades before with the introduction of the Federal Reserve. Understanding the dynamic changes that can occur within a single generation is critical to understanding the currency itself as it stands now and as it will evolve into the future.

Other References
Wikipedia article on US Dollar

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