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US Dollar (USD) Exchange Rates on 08th December 2023 (08/12/2023)

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Exchange rates for US Dollar (USD)

Updated: 2023-12-08
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD GBP GBP 0.7943 USD to GBP 1.259 GBP to USD
USD USD BGN BGN 1.8116 USD to BGN 0.552 BGN to USD
USD USD HRK HRK 7.0416 USD to HRK 0.142 HRK to USD
USD USD CZK CZK 22.5711 USD to CZK 0.0443 CZK to USD
USD USD DKK DKK 6.9141 USD to DKK 0.1446 DKK to USD
USD USD HUF HUF 354.218 USD to HUF 0.0028 HUF to USD
USD USD KZT KZT 458.3839 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 57.0185 USD to MKD 0.0175 MKD to USD
USD USD MDL MDL 17.7228 USD to MDL 0.0564 MDL to USD
USD USD NOK NOK 10.8616 USD to NOK 0.0921 NOK to USD
USD USD PLN PLN 4.0196 USD to PLN 0.2488 PLN to USD
USD USD RON RON 4.6081 USD to RON 0.217 RON to USD
USD USD RUB RUB 92.3334 USD to RUB 0.0108 RUB to USD
USD USD SEK SEK 10.3878 USD to SEK 0.0963 SEK to USD
USD USD CHF CHF 0.8754 USD to CHF 1.1423 CHF to USD
USD USD TRY TRY 28.9584 USD to TRY 0.0345 TRY to USD
USD USD UAH UAH 36.6243 USD to UAH 0.0273 UAH to USD
Updated: 2023-12-08
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD ARS ARS 363.9165 USD to ARS 0.0027 ARS to USD
USD USD BOB BOB 6.8994 USD to BOB 0.1449 BOB to USD
USD USD BRL BRL 4.9116 USD to BRL 0.2036 BRL to USD
USD USD CAD CAD 1.3576 USD to CAD 0.7366 CAD to USD
USD USD KYD KYD 0.832 USD to KYD 1.2019 KYD to USD
USD USD CLP CLP 872.6611 USD to CLP 0.0011 CLP to USD
USD USD COP COP 3999.4821 USD to COP 0.0003 COP to USD
USD USD CRC CRC 526.8962 USD to CRC 0.0019 CRC to USD
USD USD DOP DOP 56.8426 USD to DOP 0.0176 DOP to USD
USD USD SVC SVC 8.9352 USD to SVC 0.1119 SVC to USD
USD USD FJD FJD 2.2298 USD to FJD 0.4485 FJD to USD
USD USD HNL HNL 24.6262 USD to HNL 0.0406 HNL to USD
USD USD JMD JMD 155.4945 USD to JMD 0.0064 JMD to USD
USD USD MXN MXN 17.4818 USD to MXN 0.0572 MXN to USD
USD USD ANG ANG 1.7995 USD to ANG 0.5557 ANG to USD
USD USD PYG PYG 7357.4927 USD to PYG 0.0001 PYG to USD
USD USD PEN PEN 3.747 USD to PEN 0.2669 PEN to USD
USD USD TTD TTD 6.7808 USD to TTD 0.1475 TTD to USD
USD USD UYU UYU 39.1257 USD to UYU 0.0256 UYU to USD
USD USD VEF VEF 3553267.8781 USD to VEF 0 VEF to USD
Updated: 2023-12-08
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD AUD AUD 1.5114 USD to AUD 0.6617 AUD to USD
USD USD BDT BDT 109.8265 USD to BDT 0.0091 BDT to USD
USD USD BND BND 1.3381 USD to BND 0.7473 BND to USD
USD USD CNY CNY 7.1191 USD to CNY 0.1405 CNY to USD
USD USD INR INR 83.3706 USD to INR 0.012 INR to USD
USD USD IDR IDR 15499.9489 USD to IDR 0.0001 IDR to USD
USD USD JPY JPY 143.7997 USD to JPY 0.007 JPY to USD
USD USD MYR MYR 4.667 USD to MYR 0.2143 MYR to USD
USD USD MVR MVR 15.3701 USD to MVR 0.0651 MVR to USD
USD USD NPR NPR 133.1768 USD to NPR 0.0075 NPR to USD
USD USD NZD NZD 1.6212 USD to NZD 0.6168 NZD to USD
USD USD PKR PKR 283.5603 USD to PKR 0.0035 PKR to USD
USD USD PGK PGK 3.7228 USD to PGK 0.2686 PGK to USD
USD USD PHP PHP 55.3715 USD to PHP 0.0181 PHP to USD
USD USD SCR SCR 12.7312 USD to SCR 0.0785 SCR to USD
USD USD SGD SGD 1.3365 USD to SGD 0.7482 SGD to USD
USD USD KRW KRW 1306.3612 USD to KRW 0.0008 KRW to USD
USD USD LKR LKR 326.4215 USD to LKR 0.0031 LKR to USD
USD USD TWD TWD 31.313 USD to TWD 0.0319 TWD to USD
USD USD THB THB 35.176 USD to THB 0.0284 THB to USD
Updated: 2023-12-08
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD BHD BHD 0.377 USD to BHD 2.6527 BHD to USD
USD USD EGP EGP 30.9077 USD to EGP 0.0324 EGP to USD
USD USD HKD HKD 7.8126 USD to HKD 0.128 HKD to USD
USD USD ILS ILS 3.698 USD to ILS 0.2704 ILS to USD
USD USD JOD JOD 0.7093 USD to JOD 1.4098 JOD to USD
USD USD KWD KWD 0.3082 USD to KWD 3.2443 KWD to USD
USD USD LBP LBP 15012.7234 USD to LBP 0.0001 LBP to USD
USD USD OMR OMR 0.385 USD to OMR 2.5972 OMR to USD
USD USD QAR QAR 3.641 USD to QAR 0.2747 QAR to USD
USD USD SAR SAR 3.7507 USD to SAR 0.2666 SAR to USD
USD USD AED AED 3.6725 USD to AED 0.2723 AED to USD
USD USD YER YER 250.3249 USD to YER 0.004 YER to USD
Updated: 2023-12-08
Convert from Convert to 1 USD Conversion in currency Conversion
USD USD DZD DZD 134.4812 USD to DZD 0.0074 DZD to USD
USD USD KES KES 153.3497 USD to KES 0.0065 KES to USD
USD USD MUR MUR 44.094 USD to MUR 0.0227 MUR to USD
USD USD MAD MAD 10.0985 USD to MAD 0.099 MAD to USD
USD USD NAD NAD 18.7499 USD to NAD 0.0533 NAD to USD
USD USD NIO NIO 36.5416 USD to NIO 0.0274 NIO to USD
USD USD NGN NGN 801.0009 USD to NGN 0.0012 NGN to USD
USD USD SLL SLL 19750.0244 USD to SLL 0.0001 SLL to USD
USD USD ZAR ZAR 18.7593 USD to ZAR 0.0533 ZAR to USD
USD USD TZS TZS 2505.0002 USD to TZS 0.0004 TZS to USD
USD USD TND TND 3.1235 USD to TND 0.3202 TND to USD
USD USD UGX UGX 3768.077 USD to UGX 0.0003 UGX to USD
USD USD XOF XOF 608.0664 USD to XOF 0.0016 XOF to USD
USD USD ZMK ZMK 9001.1916 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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