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US Dollar (USD) Exchange Rates on 01st April 2020 (01/04/2020)

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Exchange rates for US Dollar (USD)

Updated: 2020-04-01
Convert from Convert to 1 USD Conversion in currency Conversion
USD GBP 0.8094 USD to GBP 1.2355 GBP to USD
USD BGN 1.7745 USD to BGN 0.5635 BGN to USD
USD HRK 6.9392 USD to HRK 0.1441 HRK to USD
USD CZK 24.9455 USD to CZK 0.0401 CZK to USD
USD DKK 6.7932 USD to DKK 0.1472 DKK to USD
USD HUF 329.2939 USD to HUF 0.003 HUF to USD
USD KZT 445.2401 USD to KZT 0.0022 KZT to USD
USD LVL 0.6049 USD to LVL 1.6532 LVL to USD
USD MKD 56.0869 USD to MKD 0.0178 MKD to USD
USD MDL 18.1619 USD to MDL 0.0551 MDL to USD
USD NOK 10.4734 USD to NOK 0.0955 NOK to USD
USD PLN 4.1613 USD to PLN 0.2403 PLN to USD
USD RON 4.4002 USD to RON 0.2273 RON to USD
USD RUB 79.0554 USD to RUB 0.0126 RUB to USD
USD SEK 10.0008 USD to SEK 0.1 SEK to USD
USD CHF 0.9633 USD to CHF 1.0381 CHF to USD
USD TRY 6.6299 USD to TRY 0.1508 TRY to USD
USD UAH 27.536 USD to UAH 0.0363 UAH to USD
Updated: 2020-04-01
Convert from Convert to 1 USD Conversion in currency Conversion
USD ARS 64.3256 USD to ARS 0.0155 ARS to USD
USD BOB 6.843 USD to BOB 0.1461 BOB to USD
USD BRL 5.2052 USD to BRL 0.1921 BRL to USD
USD CAD 1.418 USD to CAD 0.7052 CAD to USD
USD KYD 0.827 USD to KYD 1.2091 KYD to USD
USD CLP 858.2993 USD to CLP 0.0012 CLP to USD
USD COP 4058.9978 USD to COP 0.0002 COP to USD
USD CRC 577.1231 USD to CRC 0.0017 CRC to USD
USD DOP 53.4637 USD to DOP 0.0187 DOP to USD
USD SVC 8.6836 USD to SVC 0.1152 SVC to USD
USD FJD 2.2874 USD to FJD 0.4372 FJD to USD
USD HNL 24.5574 USD to HNL 0.0407 HNL to USD
USD JMD 134.3091 USD to JMD 0.0074 JMD to USD
USD MXN 23.9926 USD to MXN 0.0417 MXN to USD
USD ANG 1.7765 USD to ANG 0.5629 ANG to USD
USD PYG 6530.9489 USD to PYG 0.0002 PYG to USD
USD PEN 3.4101 USD to PEN 0.2932 PEN to USD
USD TTD 6.7057 USD to TTD 0.1491 TTD to USD
USD UYU 43.5387 USD to UYU 0.023 UYU to USD
USD VEF 9.9875 USD to VEF 0.1001 VEF to USD
Updated: 2020-04-01
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USD AUD 1.6458 USD to AUD 0.6076 AUD to USD
USD BDT 84.3048 USD to BDT 0.0119 BDT to USD
USD BND 1.4149 USD to BND 0.7068 BND to USD
USD CNY 7.0989 USD to CNY 0.1409 CNY to USD
USD INR 75.935 USD to INR 0.0132 INR to USD
USD IDR 16653.9819 USD to IDR 0.0001 IDR to USD
USD JPY 107.5495 USD to JPY 0.0093 JPY to USD
USD MYR 4.3526 USD to MYR 0.2297 MYR to USD
USD MVR 15.4008 USD to MVR 0.0649 MVR to USD
USD NPR 119.7231 USD to NPR 0.0084 NPR to USD
USD NZD 1.6907 USD to NZD 0.5915 NZD to USD
USD PKR 164.799 USD to PKR 0.0061 PKR to USD
USD PGK 3.4438 USD to PGK 0.2904 PGK to USD
USD PHP 50.8705 USD to PHP 0.0197 PHP to USD
USD SCR 13.7599 USD to SCR 0.0727 SCR to USD
USD SGD 1.432 USD to SGD 0.6983 SGD to USD
USD KRW 1230.4108 USD to KRW 0.0008 KRW to USD
USD LKR 187.8219 USD to LKR 0.0053 LKR to USD
USD TWD 30.299 USD to TWD 0.033 TWD to USD
USD THB 32.9997 USD to THB 0.0303 THB to USD
Updated: 2020-04-01
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USD BHD 0.377 USD to BHD 2.6522 BHD to USD
USD EGP 15.7493 USD to EGP 0.0635 EGP to USD
USD HKD 7.7513 USD to HKD 0.129 HKD to USD
USD ILS 3.5572 USD to ILS 0.2811 ILS to USD
USD JOD 0.709 USD to JOD 1.4105 JOD to USD
USD KWD 0.313 USD to KWD 3.1953 KWD to USD
USD LBP 1500.6 USD to LBP 0.0007 LBP to USD
USD OMR 0.3845 USD to OMR 2.6008 OMR to USD
USD QAR 3.6405 USD to QAR 0.2747 QAR to USD
USD SAR 3.765 USD to SAR 0.2656 SAR to USD
USD AED 3.673 USD to AED 0.2723 AED to USD
USD YER 250.3504 USD to YER 0.004 YER to USD
Updated: 2020-04-01
Convert from Convert to 1 USD Conversion in currency Conversion
USD DZD 124.8217 USD to DZD 0.008 DZD to USD
USD KES 105.1506 USD to KES 0.0095 KES to USD
USD MUR 39.2029 USD to MUR 0.0255 MUR to USD
USD MAD 10.0663 USD to MAD 0.0993 MAD to USD
USD NAD 17.798 USD to NAD 0.0562 NAD to USD
USD NIO 33.4819 USD to NIO 0.0299 NIO to USD
USD NGN 367.0002 USD to NGN 0.0027 NGN to USD
USD SLL 9724.9885 USD to SLL 0.0001 SLL to USD
USD ZAR 18.0648 USD to ZAR 0.0554 ZAR to USD
USD TZS 2310.7046 USD to TZS 0.0004 TZS to USD
USD TND 2.863 USD to TND 0.3493 TND to USD
USD UGX 3761.4599 USD to UGX 0.0003 UGX to USD
USD XOF 594.5896 USD to XOF 0.0017 XOF to USD
USD ZMK 9001.2112 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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