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US Dollar (USD) Exchange Rates on 20th April 2024 (20/04/2024)

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Exchange rates for US Dollar (USD)

					Updated: 2024-04-20
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	GBP	0.8053	USD to GBP	1.2417	GBP to USD
USD	BGN	1.837	USD to BGN	0.5444	BGN to USD
USD	HRK	7.0802	USD to HRK	0.1412	HRK to USD
USD	CZK	23.7736	USD to CZK	0.0421	CZK to USD
USD	DKK	7.0142	USD to DKK	0.1426	DKK to USD
USD	EEK	0	USD to EEK	0	EEK to USD
USD	HUF	372.046	USD to HUF	0.0027	HUF to USD
USD	KZT	448.743	USD to KZT	0.0022	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	57.9164	USD to MKD	0.0173	MKD to USD
USD	MDL	17.963	USD to MDL	0.0557	MDL to USD
USD	NOK	11.0574	USD to NOK	0.0904	NOK to USD
USD	PLN	4.0947	USD to PLN	0.2442	PLN to USD
USD	RON	4.6792	USD to RON	0.2137	RON to USD
USD	RUB	94.1774	USD to RUB	0.0106	RUB to USD
USD	SKK	0	USD to SKK	0	SKK to USD
USD	SEK	10.9999	USD to SEK	0.0909	SEK to USD
USD	CHF	0.9076	USD to CHF	1.1019	CHF to USD
USD	TRY	32.6626	USD to TRY	0.0306	TRY to USD
USD	UAH	39.7845	USD to UAH	0.0251	UAH to USD

					Updated: 2024-04-20
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	ARS	872.6523	USD to ARS	0.0011	ARS to USD
USD	BOB	6.9617	USD to BOB	0.1436	BOB to USD
USD	BRL	5.2447	USD to BRL	0.1907	BRL to USD
USD	CAD	1.3783	USD to CAD	0.7256	CAD to USD
USD	KYD	0.8363	USD to KYD	1.1958	KYD to USD
USD	CLP	966.1895	USD to CLP	0.001	CLP to USD
USD	COP	3928.3989	USD to COP	0.0003	COP to USD
USD	CRC	502.7968	USD to CRC	0.002	CRC to USD
USD	DOP	59.3035	USD to DOP	0.0169	DOP to USD
USD	SVC	8.7803	USD to SVC	0.1139	SVC to USD
USD	FJD	2.2806	USD to FJD	0.4385	FJD to USD
USD	HNL	24.7751	USD to HNL	0.0404	HNL to USD
USD	JMD	155.9054	USD to JMD	0.0064	JMD to USD
USD	MXN	17.4265	USD to MXN	0.0574	MXN to USD
USD	ANG	1.8091	USD to ANG	0.5527	ANG to USD
USD	PYG	7424.9193	USD to PYG	0.0001	PYG to USD
USD	PEN	3.7618	USD to PEN	0.2658	PEN to USD
USD	TTD	6.811	USD to TTD	0.1468	TTD to USD
USD	USD	1	USD to USD	1	USD to USD
USD	UYU	38.8585	USD to UYU	0.0257	UYU to USD
USD	VEF	3622419.9288	USD to VEF	0	VEF to USD

					Updated: 2024-04-20
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	AUD	1.5652	USD to AUD	0.6389	AUD to USD
USD	BDT	110.169	USD to BDT	0.0091	BDT to USD
USD	BND	1.3655	USD to BND	0.7323	BND to USD
USD	CNY	7.2398	USD to CNY	0.1381	CNY to USD
USD	INR	83.5094	USD to INR	0.012	INR to USD
USD	IDR	16263.8128	USD to IDR	0.0001	IDR to USD
USD	JPY	154.2862	USD to JPY	0.0065	JPY to USD
USD	MYR	4.782	USD to MYR	0.2091	MYR to USD
USD	MVR	15.4595	USD to MVR	0.0647	MVR to USD
USD	NPR	134.1234	USD to NPR	0.0075	NPR to USD
USD	NZD	1.7015	USD to NZD	0.5877	NZD to USD
USD	PKR	279.5286	USD to PKR	0.0036	PKR to USD
USD	PGK	3.8135	USD to PGK	0.2622	PGK to USD
USD	PHP	57.541	USD to PHP	0.0174	PHP to USD
USD	SCR	14.339	USD to SCR	0.0697	SCR to USD
USD	SGD	1.3634	USD to SGD	0.7335	SGD to USD
USD	KRW	1384.7472	USD to KRW	0.0007	KRW to USD
USD	LKR	302.3141	USD to LKR	0.0033	LKR to USD
USD	TWD	32.5215	USD to TWD	0.0307	TWD to USD
USD	THB	36.859	USD to THB	0.0271	THB to USD

					Updated: 2024-04-20
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	BHD	0.3784	USD to BHD	2.643	BHD to USD
USD	EGP	48.588	USD to EGP	0.0206	EGP to USD
USD	HKD	7.8302	USD to HKD	0.1277	HKD to USD
USD	ILS	3.7936	USD to ILS	0.2636	ILS to USD
USD	JOD	0.7088	USD to JOD	1.4108	JOD to USD
USD	KWD	0.3084	USD to KWD	3.2429	KWD to USD
USD	LBP	89864.6072	USD to LBP	0	LBP to USD
USD	OMR	0.3862	USD to OMR	2.5891	OMR to USD
USD	QAR	3.6405	USD to QAR	0.2747	QAR to USD
USD	SAR	3.7524	USD to SAR	0.2665	SAR to USD
USD	AED	3.6738	USD to AED	0.2722	AED to USD
USD	YER	250.2975	USD to YER	0.004	YER to USD

					Updated: 2024-04-20
Convert from	Convert to	1 USD	Conversion	in currency	Conversion
USD	DZD	134.8526	USD to DZD	0.0074	DZD to USD
USD	KES	132.9997	USD to KES	0.0075	KES to USD
USD	MUR	46.8299	USD to MUR	0.0214	MUR to USD
USD	MAD	10.1673	USD to MAD	0.0984	MAD to USD
USD	NAD	19.1504	USD to NAD	0.0522	NAD to USD
USD	NIO	36.9319	USD to NIO	0.0271	NIO to USD
USD	NGN	1151.08	USD to NGN	0.0009	NGN to USD
USD	SLL	20969.4697	USD to SLL	0	SLL to USD
USD	ZAR	19.2427	USD to ZAR	0.052	ZAR to USD
USD	TZS	2582.999	USD to TZS	0.0004	TZS to USD
USD	TND	3.1445	USD to TND	0.318	TND to USD
USD	UGX	3822.9091	USD to UGX	0.0003	UGX to USD
USD	XOF	616.5817	USD to XOF	0.0016	XOF to USD
USD	ZMK	9001.2097	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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