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US Dollar (USD) Exchange Rates on 02nd October 2022 (02/10/2022)

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Exchange rates for US Dollar (USD)

					Updated: 2022-10-02
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	GBP	0.8969	USD to GBP	1.115	GBP to USD
USD	BGN	1.9962	USD to BGN	0.501	BGN to USD
USD	HRK	7.6737	USD to HRK	0.1303	HRK to USD
USD	CZK	25.0829	USD to CZK	0.0399	CZK to USD
USD	DKK	7.5877	USD to DKK	0.1318	DKK to USD
USD	EEK	0	USD to EEK	0	EEK to USD
USD	HUF	431.5739	USD to HUF	0.0023	HUF to USD
USD	KZT	476.391	USD to KZT	0.0021	KZT to USD
USD	LVL	0.6049	USD to LVL	1.6532	LVL to USD
USD	LTL	0	USD to LTL	0	LTL to USD
USD	MKD	63.1366	USD to MKD	0.0158	MKD to USD
USD	MDL	19.5097	USD to MDL	0.0513	MDL to USD
USD	NOK	10.8861	USD to NOK	0.0919	NOK to USD
USD	PLN	4.9517	USD to PLN	0.2019	PLN to USD
USD	RON	5.0531	USD to RON	0.1979	RON to USD
USD	RUB	60.2037	USD to RUB	0.0166	RUB to USD
USD	SKK	0	USD to SKK	0	SKK to USD
USD	SEK	11.083	USD to SEK	0.0902	SEK to USD
USD	CHF	0.9887	USD to CHF	1.0114	CHF to USD
USD	TRY	18.502	USD to TRY	0.054	TRY to USD
USD	UAH	36.9503	USD to UAH	0.0271	UAH to USD

					Updated: 2022-10-02
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	ARS	147.3012	USD to ARS	0.0068	ARS to USD
USD	BOB	6.913	USD to BOB	0.1447	BOB to USD
USD	BRL	5.4125	USD to BRL	0.1848	BRL to USD
USD	CAD	1.3833	USD to CAD	0.7229	CAD to USD
USD	KYD	0.8338	USD to KYD	1.1993	KYD to USD
USD	CLP	968.0089	USD to CLP	0.001	CLP to USD
USD	COP	4610.0085	USD to COP	0.0002	COP to USD
USD	CRC	627.7422	USD to CRC	0.0016	CRC to USD
USD	DOP	53.6039	USD to DOP	0.0187	DOP to USD
USD	SVC	8.7551	USD to SVC	0.1142	SVC to USD
USD	FJD	2.3101	USD to FJD	0.4329	FJD to USD
USD	HNL	24.7604	USD to HNL	0.0404	HNL to USD
USD	JMD	152.1469	USD to JMD	0.0066	JMD to USD
USD	MXN	20.1462	USD to MXN	0.0496	MXN to USD
USD	ANG	1.8032	USD to ANG	0.5546	ANG to USD
USD	PYG	7072.6199	USD to PYG	0.0001	PYG to USD
USD	PEN	3.9815	USD to PEN	0.2512	PEN to USD
USD	TTD	6.7974	USD to TTD	0.1471	TTD to USD
USD	USD	1	USD to USD	1	USD to USD
USD	UYU	41.3682	USD to UYU	0.0242	UYU to USD
USD	VEF	218475932402	USD to VEF	0	VEF to USD

					Updated: 2022-10-02
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	AUD	1.5615	USD to AUD	0.6404	AUD to USD
USD	BDT	101.3496	USD to BDT	0.0099	BDT to USD
USD	BND	1.4361	USD to BND	0.6963	BND to USD
USD	CNY	7.116	USD to CNY	0.1405	CNY to USD
USD	INR	81.6383	USD to INR	0.0122	INR to USD
USD	IDR	15303.6686	USD to IDR	0.0001	IDR to USD
USD	JPY	144.739	USD to JPY	0.0069	JPY to USD
USD	MYR	4.637	USD to MYR	0.2157	MYR to USD
USD	MVR	15.4504	USD to MVR	0.0647	MVR to USD
USD	NPR	130.3685	USD to NPR	0.0077	NPR to USD
USD	NZD	1.7894	USD to NZD	0.5588	NZD to USD
USD	PKR	228.1047	USD to PKR	0.0044	PKR to USD
USD	PGK	3.5204	USD to PGK	0.2841	PGK to USD
USD	PHP	58.8015	USD to PHP	0.017	PHP to USD
USD	SCR	13.0556	USD to SCR	0.0766	SCR to USD
USD	SGD	1.432	USD to SGD	0.6983	SGD to USD
USD	KRW	1440.2274	USD to KRW	0.0007	KRW to USD
USD	LKR	365.6614	USD to LKR	0.0027	LKR to USD
USD	TWD	31.8176	USD to TWD	0.0314	TWD to USD
USD	THB	37.8031	USD to THB	0.0265	THB to USD

					Updated: 2022-10-02
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	BHD	0.3773	USD to BHD	2.6506	BHD to USD
USD	EGP	19.5381	USD to EGP	0.0512	EGP to USD
USD	HKD	7.8498	USD to HKD	0.1274	HKD to USD
USD	ILS	3.5585	USD to ILS	0.281	ILS to USD
USD	JOD	0.709	USD to JOD	1.4104	JOD to USD
USD	KWD	0.31	USD to KWD	3.2262	KWD to USD
USD	LBP	1516.9429	USD to LBP	0.0007	LBP to USD
USD	OMR	0.385	USD to OMR	2.5976	OMR to USD
USD	QAR	3.641	USD to QAR	0.2746	QAR to USD
USD	SAR	3.7568	USD to SAR	0.2662	SAR to USD
USD	AED	3.673	USD to AED	0.2723	AED to USD
USD	YER	250.2504	USD to YER	0.004	YER to USD

					Updated: 2022-10-02
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	DZD	140.8239	USD to DZD	0.0071	DZD to USD
USD	KES	120.8501	USD to KES	0.0083	KES to USD
USD	MUR	45.7463	USD to MUR	0.0219	MUR to USD
USD	MAD	10.953	USD to MAD	0.0913	MAD to USD
USD	NAD	18.0804	USD to NAD	0.0553	NAD to USD
USD	NIO	36.0004	USD to NIO	0.0278	NIO to USD
USD	NGN	432.3706	USD to NGN	0.0023	NGN to USD
USD	SLL	15495.0428	USD to SLL	0.0001	SLL to USD
USD	ZAR	18.0911	USD to ZAR	0.0553	ZAR to USD
USD	TZS	2329.9976	USD to TZS	0.0004	TZS to USD
USD	TND	3.269	USD to TND	0.3059	TND to USD
USD	UGX	3852.9284	USD to UGX	0.0003	UGX to USD
USD	XOF	582.0008	USD to XOF	0.0017	XOF to USD
USD	ZMK	9001.2107	USD to ZMK	0.0001	ZMK to USD

United States Dollar (USD)
1 United States Dollar

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
http://www.federalreserve.gov/
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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