US Dollar (USD) Exchange Rates on 28th January 2020 (28/01/2020)

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Exchange rates for US Dollar (USD)

Updated: 2020-01-28
Convert from Convert to 1 USD Conversion in currency Conversion
USD GBP 0.7669 USD to GBP 1.3039 GBP to USD
USD BGN 1.7745 USD to BGN 0.5635 BGN to USD
USD HRK 6.754 USD to HRK 0.1481 HRK to USD
USD CZK 22.9207 USD to CZK 0.0436 CZK to USD
USD DKK 6.7819 USD to DKK 0.1475 DKK to USD
USD EEK 0 USD to EEK 0 EEK to USD
USD HUF 306.1095 USD to HUF 0.0033 HUF to USD
USD KZT 381.1866 USD to KZT 0.0026 KZT to USD
USD LVL 0.6049 USD to LVL 1.6532 LVL to USD
USD LTL 2.9527 USD to LTL 0.3387 LTL to USD
USD MKD 55.9116 USD to MKD 0.0179 MKD to USD
USD MDL 17.6575 USD to MDL 0.0566 MDL to USD
USD NOK 9.1369 USD to NOK 0.1094 NOK to USD
USD PLN 3.8817 USD to PLN 0.2576 PLN to USD
USD RON 4.3388 USD to RON 0.2305 RON to USD
USD RUB 62.8442 USD to RUB 0.0159 RUB to USD
USD SKK 0 USD to SKK 0 SKK to USD
USD SEK 9.6244 USD to SEK 0.1039 SEK to USD
USD CHF 0.9708 USD to CHF 1.0301 CHF to USD
USD TRY 5.9428 USD to TRY 0.1683 TRY to USD
USD UAH 24.6115 USD to UAH 0.0406 UAH to USD
Updated: 2020-01-28
Convert from Convert to 1 USD Conversion in currency Conversion
USD ARS 60.0795 USD to ARS 0.0166 ARS to USD
USD BOB 6.9179 USD to BOB 0.1446 BOB to USD
USD BRL 4.2074 USD to BRL 0.2377 BRL to USD
USD CAD 1.3184 USD to CAD 0.7585 CAD to USD
USD KYD 0.8338 USD to KYD 1.1994 KYD to USD
USD CLP 790.2003 USD to CLP 0.0013 CLP to USD
USD COP 3399.995 USD to COP 0.0003 COP to USD
USD CRC 565.7083 USD to CRC 0.0018 CRC to USD
USD DOP 53.2099 USD to DOP 0.0188 DOP to USD
USD SVC 8.754 USD to SVC 0.1142 SVC to USD
USD FJD 2.182 USD to FJD 0.4583 FJD to USD
USD HNL 24.6368 USD to HNL 0.0406 HNL to USD
USD JMD 138.2068 USD to JMD 0.0072 JMD to USD
USD MXN 18.8502 USD to MXN 0.053 MXN to USD
USD ANG 1.6507 USD to ANG 0.6058 ANG to USD
USD PYG 6516.4405 USD to PYG 0.0002 PYG to USD
USD PEN 3.3254 USD to PEN 0.3007 PEN to USD
USD TTD 6.7645 USD to TTD 0.1478 TTD to USD
USD USD 1 USD to USD 1 USD to USD
USD UYU 37.2809 USD to UYU 0.0268 UYU to USD
USD VEF 9.9875 USD to VEF 0.1001 VEF to USD
Updated: 2020-01-28
Convert from Convert to 1 USD Conversion in currency Conversion
USD AUD 1.4791 USD to AUD 0.6761 AUD to USD
USD BDT 84.9318 USD to BDT 0.0118 BDT to USD
USD BND 1.3572 USD to BND 0.7368 BND to USD
USD CNY 6.9367 USD to CNY 0.1442 CNY to USD
USD INR 71.3255 USD to INR 0.014 INR to USD
USD IDR 13641.6603 USD to IDR 0.0001 IDR to USD
USD JPY 109.0348 USD to JPY 0.0092 JPY to USD
USD MYR 4.0835 USD to MYR 0.2449 MYR to USD
USD MVR 15.4497 USD to MVR 0.0647 MVR to USD
USD NPR 114.3188 USD to NPR 0.0087 NPR to USD
USD NZD 1.5278 USD to NZD 0.6545 NZD to USD
USD PKR 154.6589 USD to PKR 0.0065 PKR to USD
USD PGK 3.4113 USD to PGK 0.2931 PGK to USD
USD PHP 50.7855 USD to PHP 0.0197 PHP to USD
USD SCR 13.6999 USD to SCR 0.073 SCR to USD
USD SGD 1.3572 USD to SGD 0.7368 SGD to USD
USD KRW 1176.7916 USD to KRW 0.0008 KRW to USD
USD LKR 181.6262 USD to LKR 0.0055 LKR to USD
USD TWD 30.0925 USD to TWD 0.0332 TWD to USD
USD THB 30.7815 USD to THB 0.0325 THB to USD
Updated: 2020-01-28
Convert from Convert to 1 USD Conversion in currency Conversion
USD BHD 0.377 USD to BHD 2.6528 BHD to USD
USD EGP 15.7737 USD to EGP 0.0634 EGP to USD
USD HKD 7.7779 USD to HKD 0.1286 HKD to USD
USD ILS 3.4601 USD to ILS 0.289 ILS to USD
USD JOD 0.709 USD to JOD 1.4103 JOD to USD
USD KWD 0.3037 USD to KWD 3.2923 KWD to USD
USD LBP 1512.6174 USD to LBP 0.0007 LBP to USD
USD OMR 0.385 USD to OMR 2.5975 OMR to USD
USD QAR 3.641 USD to QAR 0.2747 QAR to USD
USD SAR 3.7518 USD to SAR 0.2665 SAR to USD
USD AED 3.6729 USD to AED 0.2723 AED to USD
USD YER 250.3497 USD to YER 0.004 YER to USD
Updated: 2020-01-28
Convert from Convert to 1 USD Conversion in currency Conversion
USD DZD 120.0631 USD to DZD 0.0083 DZD to USD
USD KES 100.9499 USD to KES 0.0099 KES to USD
USD MUR 36.8444 USD to MUR 0.0271 MUR to USD
USD MAD 9.6456 USD to MAD 0.1037 MAD to USD
USD NAD 14.6294 USD to NAD 0.0684 NAD to USD
USD NIO 33.7494 USD to NIO 0.0296 NIO to USD
USD NGN 362.5309 USD to NGN 0.0028 NGN to USD
USD SLL 9699.9967 USD to SLL 0.0001 SLL to USD
USD ZAR 14.5731 USD to ZAR 0.0686 ZAR to USD
USD TZS 2305.5003 USD to TZS 0.0004 TZS to USD
USD TND 2.8325 USD to TND 0.353 TND to USD
USD UGX 3683.6184 USD to UGX 0.0003 UGX to USD
USD XOF 595.2436 USD to XOF 0.0017 XOF to USD
USD ZMK 9001.1883 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
XE.com Live Currency Converter for USD

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