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US Dollar (USD) Exchange Rates on 02nd December 2024 (02/12/2024)

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Exchange rates for US Dollar (USD)

Updated: 2024-12-02
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD GBP GBP 0.7871 USD to GBP 1.2706 GBP to USD
USD USD BGN BGN 1.8462 USD to BGN 0.5416 BGN to USD
USD USD HRK HRK 7.1231 USD to HRK 0.1404 HRK to USD
USD USD CZK CZK 23.9749 USD to CZK 0.0417 CZK to USD
USD USD DKK DKK 7.0795 USD to DKK 0.1413 DKK to USD
USD USD EEK EEK 0 USD to EEK 0 EEK to USD
USD USD HUF HUF 392.9921 USD to HUF 0.0025 HUF to USD
USD USD KZT KZT 517.5448 USD to KZT 0.0019 KZT to USD
USD USD LVL LVL 0.604 USD to LVL 1.6555 LVL to USD
USD USD LTL LTL 0 USD to LTL 0 LTL to USD
USD USD MKD MKD 58.3479 USD to MKD 0.0171 MKD to USD
USD USD MDL MDL 18.3306 USD to MDL 0.0546 MDL to USD
USD USD NOK NOK 11.0828 USD to NOK 0.0902 NOK to USD
USD USD PLN PLN 4.0805 USD to PLN 0.2451 PLN to USD
USD USD RON RON 4.7217 USD to RON 0.2118 RON to USD
USD USD RUB RUB 106.8868 USD to RUB 0.0094 RUB to USD
USD USD SKK SKK 0 USD to SKK 0 SKK to USD
USD USD SEK SEK 10.9419 USD to SEK 0.0914 SEK to USD
USD USD CHF CHF 0.8836 USD to CHF 1.1317 CHF to USD
USD USD TRY TRY 34.6588 USD to TRY 0.0289 TRY to USD
USD USD UAH UAH 41.5155 USD to UAH 0.0241 UAH to USD
Updated: 2024-12-02
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD ARS ARS 1011.9131 USD to ARS 0.001 ARS to USD
USD USD BOB BOB 6.9216 USD to BOB 0.1445 BOB to USD
USD USD BRL BRL 5.9874 USD to BRL 0.167 BRL to USD
USD USD CAD CAD 1.4017 USD to CAD 0.7134 CAD to USD
USD USD KYD KYD 0.8347 USD to KYD 1.1981 KYD to USD
USD USD CLP CLP 972.8001 USD to CLP 0.001 CLP to USD
USD USD COP COP 4418.7226 USD to COP 0.0002 COP to USD
USD USD CRC CRC 509.0538 USD to CRC 0.002 CRC to USD
USD USD DOP DOP 60.4833 USD to DOP 0.0165 DOP to USD
USD USD SVC SVC 8.7333 USD to SVC 0.1145 SVC to USD
USD USD FJD FJD 2.2608 USD to FJD 0.4423 FJD to USD
USD USD HNL HNL 25.3427 USD to HNL 0.0395 HNL to USD
USD USD JMD JMD 157.8179 USD to JMD 0.0063 JMD to USD
USD USD MXN MXN 20.4182 USD to MXN 0.049 MXN to USD
USD USD ANG ANG 1.8052 USD to ANG 0.5539 ANG to USD
USD USD PYG PYG 7822.5592 USD to PYG 0.0001 PYG to USD
USD USD PEN PEN 3.7516 USD to PEN 0.2666 PEN to USD
USD USD TTD TTD 6.7631 USD to TTD 0.1479 TTD to USD
USD USD USD USD 1 USD to USD 1 USD to USD
USD USD UYU UYU 42.7593 USD to UYU 0.0234 UYU to USD
USD USD VEF VEF 3621963.4181 USD to VEF 0 VEF to USD
Updated: 2024-12-02
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD AUD AUD 1.5377 USD to AUD 0.6503 AUD to USD
USD USD BDT BDT 119.6945 USD to BDT 0.0084 BDT to USD
USD USD BND BND 1.3419 USD to BND 0.7452 BND to USD
USD USD CNY CNY 7.2571 USD to CNY 0.1378 CNY to USD
USD USD INR INR 84.5879 USD to INR 0.0118 INR to USD
USD USD IDR IDR 15889.4294 USD to IDR 0.0001 IDR to USD
USD USD JPY JPY 150.3538 USD to JPY 0.0067 JPY to USD
USD USD MYR MYR 4.4587 USD to MYR 0.2243 MYR to USD
USD USD MVR MVR 15.4379 USD to MVR 0.0648 MVR to USD
USD USD NPR NPR 135.5602 USD to NPR 0.0074 NPR to USD
USD USD NZD NZD 1.694 USD to NZD 0.5903 NZD to USD
USD USD PKR PKR 278.5146 USD to PKR 0.0036 PKR to USD
USD USD PGK PGK 4.0408 USD to PGK 0.2475 PGK to USD
USD USD PHP PHP 58.6942 USD to PHP 0.017 PHP to USD
USD USD SCR SCR 14.3159 USD to SCR 0.0699 SCR to USD
USD USD SGD SGD 1.3433 USD to SGD 0.7444 SGD to USD
USD USD KRW KRW 1401.8462 USD to KRW 0.0007 KRW to USD
USD USD LKR LKR 291.1232 USD to LKR 0.0034 LKR to USD
USD USD TWD TWD 32.454 USD to TWD 0.0308 TWD to USD
USD USD THB THB 34.294 USD to THB 0.0292 THB to USD
Updated: 2024-12-02
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD BHD BHD 0.3776 USD to BHD 2.6482 BHD to USD
USD USD EGP EGP 49.7915 USD to EGP 0.0201 EGP to USD
USD USD HKD HKD 7.7715 USD to HKD 0.1287 HKD to USD
USD USD ILS ILS 3.6312 USD to ILS 0.2754 ILS to USD
USD USD JOD JOD 0.7081 USD to JOD 1.4122 JOD to USD
USD USD KWD KWD 0.307 USD to KWD 3.2575 KWD to USD
USD USD LBP LBP 89697.9928 USD to LBP 0 LBP to USD
USD USD OMR OMR 0.3862 USD to OMR 2.5891 OMR to USD
USD USD QAR QAR 3.6511 USD to QAR 0.2739 QAR to USD
USD USD SAR SAR 3.7517 USD to SAR 0.2665 SAR to USD
USD USD AED AED 3.6678 USD to AED 0.2726 AED to USD
USD USD YER YER 250.4026 USD to YER 0.004 YER to USD
Updated: 2024-12-02
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD DZD DZD 133.7899 USD to DZD 0.0075 DZD to USD
USD USD KES KES 129.9654 USD to KES 0.0077 KES to USD
USD USD MUR MUR 46.6136 USD to MUR 0.0215 MUR to USD
USD USD MAD MAD 10.021 USD to MAD 0.0998 MAD to USD
USD USD NAD NAD 18.0639 USD to NAD 0.0554 NAD to USD
USD USD NIO NIO 36.8614 USD to NIO 0.0271 NIO to USD
USD USD NGN NGN 1683.0904 USD to NGN 0.0006 NGN to USD
USD USD SLL SLL 20969.53 USD to SLL 0 SLL to USD
USD USD ZAR ZAR 18.0605 USD to ZAR 0.0554 ZAR to USD
USD USD TZS TZS 2635.0096 USD to TZS 0.0004 TZS to USD
USD USD TND TND 3.1385 USD to TND 0.3186 TND to USD
USD USD UGX UGX 3683.4418 USD to UGX 0.0003 UGX to USD
USD USD XOF XOF 619.8507 USD to XOF 0.0016 XOF to USD
USD USD ZMK ZMK 9001.2074 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
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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