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US Dollar (USD) Exchange Rates on 27th July 2024 (27/07/2024)

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Exchange rates for US Dollar (USD)

					Updated: 2024-07-27
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	GBP	0.7773	USD to GBP	1.2864	GBP to USD
USD	BGN	1.8017	USD to BGN	0.555	BGN to USD
USD	HRK	6.9079	USD to HRK	0.1448	HRK to USD
USD	CZK	23.3564	USD to CZK	0.0428	CZK to USD
USD	DKK	6.8734	USD to DKK	0.1455	DKK to USD
USD	EEK	0	USD to EEK	0	EEK to USD
USD	HUF	361.3399	USD to HUF	0.0028	HUF to USD
USD	KZT	474.7212	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	56.7673	USD to MKD	0.0176	MKD to USD
USD	MDL	17.776	USD to MDL	0.0563	MDL to USD
USD	NOK	11.0222	USD to NOK	0.0907	NOK to USD
USD	PLN	3.9461	USD to PLN	0.2534	PLN to USD
USD	RON	4.5759	USD to RON	0.2185	RON to USD
USD	RUB	84.9824	USD to RUB	0.0118	RUB to USD
USD	SKK	0	USD to SKK	0	SKK to USD
USD	SEK	10.824	USD to SEK	0.0924	SEK to USD
USD	CHF	0.8809	USD to CHF	1.1352	CHF to USD
USD	TRY	33.0902	USD to TRY	0.0302	TRY to USD
USD	UAH	41.2065	USD to UAH	0.0243	UAH to USD

					Updated: 2024-07-27
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	ARS	929.5043	USD to ARS	0.0011	ARS to USD
USD	BOB	6.9081	USD to BOB	0.1448	BOB to USD
USD	BRL	5.6448	USD to BRL	0.1772	BRL to USD
USD	CAD	1.3818	USD to CAD	0.7237	CAD to USD
USD	KYD	0.8332	USD to KYD	1.2003	KYD to USD
USD	CLP	947.1413	USD to CLP	0.0011	CLP to USD
USD	COP	4031.5	USD to COP	0.0002	COP to USD
USD	CRC	528.6288	USD to CRC	0.0019	CRC to USD
USD	DOP	59.2197	USD to DOP	0.0169	DOP to USD
USD	SVC	8.748	USD to SVC	0.1143	SVC to USD
USD	FJD	2.26	USD to FJD	0.4425	FJD to USD
USD	HNL	24.7561	USD to HNL	0.0404	HNL to USD
USD	JMD	156.4964	USD to JMD	0.0064	JMD to USD
USD	MXN	18.4178	USD to MXN	0.0543	MXN to USD
USD	ANG	1.8018	USD to ANG	0.555	ANG to USD
USD	PYG	7582.5002	USD to PYG	0.0001	PYG to USD
USD	PEN	3.7415	USD to PEN	0.2673	PEN to USD
USD	TTD	6.7957	USD to TTD	0.1472	TTD to USD
USD	USD	1	USD to USD	1	USD to USD
USD	UYU	40.1786	USD to UYU	0.0249	UYU to USD
USD	VEF	3622405.1539	USD to VEF	0	VEF to USD

					Updated: 2024-07-27
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	AUD	1.5266	USD to AUD	0.655	AUD to USD
USD	BDT	117.4779	USD to BDT	0.0085	BDT to USD
USD	BND	1.3418	USD to BND	0.7453	BND to USD
USD	CNY	7.2476	USD to CNY	0.138	CNY to USD
USD	INR	83.7271	USD to INR	0.0119	INR to USD
USD	IDR	16296.437	USD to IDR	0.0001	IDR to USD
USD	JPY	153.8043	USD to JPY	0.0065	JPY to USD
USD	MYR	4.6625	USD to MYR	0.2145	MYR to USD
USD	MVR	15.3496	USD to MVR	0.0651	MVR to USD
USD	NPR	133.8941	USD to NPR	0.0075	NPR to USD
USD	NZD	1.6989	USD to NZD	0.5886	NZD to USD
USD	PKR	278.3373	USD to PKR	0.0036	PKR to USD
USD	PGK	3.8668	USD to PGK	0.2586	PGK to USD
USD	PHP	58.4334	USD to PHP	0.0171	PHP to USD
USD	SCR	13.2757	USD to SCR	0.0753	SCR to USD
USD	SGD	1.343	USD to SGD	0.7446	SGD to USD
USD	KRW	1386.127	USD to KRW	0.0007	KRW to USD
USD	LKR	303.3367	USD to LKR	0.0033	LKR to USD
USD	TWD	32.817	USD to TWD	0.0305	TWD to USD
USD	THB	36.1385	USD to THB	0.0277	THB to USD

					Updated: 2024-07-27
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	BHD	0.3769	USD to BHD	2.6529	BHD to USD
USD	EGP	48.3349	USD to EGP	0.0207	EGP to USD
USD	HKD	7.8071	USD to HKD	0.1281	HKD to USD
USD	ILS	3.6679	USD to ILS	0.2726	ILS to USD
USD	JOD	0.7087	USD to JOD	1.411	JOD to USD
USD	KWD	0.3058	USD to KWD	3.2697	KWD to USD
USD	LBP	89529.9259	USD to LBP	0	LBP to USD
USD	OMR	0.385	USD to OMR	2.5977	OMR to USD
USD	QAR	3.6468	USD to QAR	0.2742	QAR to USD
USD	SAR	3.7508	USD to SAR	0.2666	SAR to USD
USD	AED	3.673	USD to AED	0.2723	AED to USD
USD	YER	250.3488	USD to YER	0.004	YER to USD

					Updated: 2024-07-27
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	DZD	134.4255	USD to DZD	0.0074	DZD to USD
USD	KES	129.9704	USD to KES	0.0077	KES to USD
USD	MUR	46.8397	USD to MUR	0.0213	MUR to USD
USD	MAD	9.8332	USD to MAD	0.1017	MAD to USD
USD	NAD	18.4813	USD to NAD	0.0541	NAD to USD
USD	NIO	36.7979	USD to NIO	0.0272	NIO to USD
USD	NGN	1557.0482	USD to NGN	0.0006	NGN to USD
USD	SLL	20969.5598	USD to SLL	0	SLL to USD
USD	ZAR	18.326	USD to ZAR	0.0546	ZAR to USD
USD	TZS	2690.4759	USD to TZS	0.0004	TZS to USD
USD	TND	3.1029	USD to TND	0.3223	TND to USD
USD	UGX	3735.9657	USD to UGX	0.0003	UGX to USD
USD	XOF	604.3485	USD to XOF	0.0017	XOF to USD
USD	ZMK	9001.2131	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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