The American dollar was introduced as the official currency of the United States in 1785 and is used as official currency in 0 countries. In addition, there are numerous countries where the U.S. dollar is readily accepted even in regular retail transactions. Internationally, it has established itself as a reserve currency and is the most traded currency in the world.
ISO 4127:
USD
Numeric:
840
Symbol:
$
1.00 US dollars = 0.91 euros
(Date: 12/22/2023)
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Exchange rate history 1 USD in EUR
The graph shown here shows the exchange rate development from January 2017 to December 2023. The exchange rate for 1 USD moved during this time from EUR 0.84 to EUR 0.92. In these 83 months it rose by 9.0 percent.
Divisions and denominations
1 U.S. dollar is equivalent to 4 quarters, 10 dimes, 20 nickels, 100 cents or even 1,000 mill. The $1 piece is also colloquially known as a "buck," and the $10 bill as an eagle. While these terms are quite common within the U.S., the terms of the dime, nickel and eagle have never been officially established. Calling the dollar a "greenback" dates back to the time of the first bills around 1861, when it was given the distinctive green color.
The largest existing bill bears the portrait of Woodrow Wilson and has a value of 100,000 USD. Even though it is still legal tender today, it was never in circulation, but was merely exchanged between central banks starting in 1934. The largest banknote still printed today is the $100 bill. All bills with higher denominations were withdrawn by the Federal Reserve Bank in 1945.
These countries have the US dollar
| Country | Region |
|---|---|
| American Samoa | Polynesia |
| British Virgin Islands | Caribbean |
| Ecuador | South America |
| El Salvador | Central America |
| Guam | Micronesia |
| East Timor | Southeast Asia |
| Marshall Islands | Micronesia |
| Federated States of Micronesia | Micronesia |
| Palau | Micronesia |
| Northern Mariana Islands | Micronesia |
| Puerto Rico | Caribbean |
| Turks and Caicos Islands | Caribbean |
| United States of America | North America |
| Virgin Islands | Caribbean |
| British Indian Ocean Territory | Eastern Africa |
| Caribbean Netherlands | Caribbean |
| United States Minor Outlying Islands | Micronesia |
Currencies with a fixed exchange rate to the US dollar
| Currency | Rate |
|---|---|
| Arabic dirham | 1 USD = 3.6725 AED |
| Netherlands Antillean guilder | 1 USD = 1.79 ANG |
| guilder | 1 USD = 1.79 AWG |
| Barbadian dollar | 1 USD = 2 BBD |
| Bahrain dinar | 1 USD = 0.376 BHD |
| Bermudian dollar | 1 USD = 1 BMD |
| Bahamian dollar | 1 USD = 1 BSD |
| Belize dollar | 1 USD = 2 BZD |
| Cuban peso | 1 USD = 1 CUP |
| Djibouti franc | 1 USD = 177.721 DJF |
| nakfa | 1 USD = 10 ERN |
| Hong Kong dollar | 1 USD = 7.8 HKD |
| Jordanian dinar | 1 USD = 0.709 JOD |
| Kuwaiti dinar | 1 USD = 0.29963 KWD |
| Cayman dollar | 1 USD = 0.83333 KYD |
| Lebanese pound | 1 USD = 1,507.5 LBP |
| Omani rial | 1 USD = 0.38449 OMR |
| Panamanian balboa | 1 USD = 1 PAB |
| Qatari rial | 1 USD = 3.64 QAR |
| Saudi rial | 1 USD = 3.75 SAR |
| East Caribbean dollar | 1 USD = 2.7 XCD |
Currency reserves for the US dollar
According to the International Monetary Fund, the total broad money (M3) amounted to USD 27.249 trillion at the end of 2021 (data only for the USA). For currency hedging, reserves were held in a total amount of 716.15 billion dollars. This corresponds to a ratio of 1:38.0. In other words, not even 1 of 38 dollars is deposited with a countervalue.
Approximately 480.30 billion dollars (67.1%) of the currency reserves exist in gold reserves. The remainder consists of foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions.
› Worldwide currency and gold reserves
Average dollar rate
Uniform reference rates (average dollar exchange rate per year) are determined and published by the European Central Bank for each calendar year. These annual average rates subsequently form a uniform basis for converting the U.S. dollar into euros for numerous indicators.
The reference rate for the year 2023 has not yet been determined. Since the beginning of the year, it would be around 1.0810 USD.
| Year | Reference rate for 1 Euro = |
|---|---|
| 2010 | 1.3257 USD |
| 2011 | 1.3920 USD |
| 2012 | 1.2848 USD |
| 2013 | 1.3281 USD |
| 2014 | 1.3285 USD |
| 2015 | 1.1095 USD |
| 2016 | 1.1069 USD |
| 2017 | 1.1297 USD |
| 2018 | 1.1810 USD |
| 2019 | 1.1195 USD |
| 2020 | 1.1422 USD |
| 2021 | 1.1827 USD |
| 2022 | 1.0530 USD |
| 2023 (expected) | 1.0810 USD |
Sources
All conversion rates are based on data from the European Central Bank.
Data on currency and gold reserves are from the International Monetary Fund.
Currency and gold reserves worldwideReserve assets and gold holdings in proportion to the money stock. An international comparison of currency hedging.
Average income around the worldA comparison of the average income per capita over 75 countries worldwide
Cost of living in a global comparisonRanking of international living costs from 102 countries compared to the US
As an enthusiast with an in-depth understanding of international finance and currencies, I can confidently provide a comprehensive analysis of the concepts presented in the article about the U.S. dollar. My expertise is rooted in a thorough understanding of economic principles, currency markets, and historical developments.
1. Introduction of the U.S. Dollar: The American dollar was officially established as the currency of the United States in 1785. It has since become a global economic force, with its official ISO code being USD, numeric code 840, and symbol $.
2. International Usage: The U.S. dollar is not only the official currency of the United States but is also widely accepted globally. While it is the official currency in 0 countries, it is commonly used in regular retail transactions in numerous nations. Furthermore, it has gained recognition as a reserve currency and is the most traded currency globally.
3. Exchange Rate Information: The exchange rate history provided in the article indicates the value of 1 USD in euros over the period from January 2017 to December 2023. During this time, the exchange rate fluctuated, ultimately rising by 9.0 percent.
4. Divisions and Denominations: The article explains that 1 U.S. dollar can be divided into 4 quarters, 10 dimes, 20 nickels, 100 cents, or 1,000 mill. Colloquially, the $1 piece is known as a "buck," and the $10 bill as an eagle. The term "greenback" dates back to the 1860s when the distinctive green color was introduced.
5. Largest Bill and Historical Notes: The largest existing bill, valued at $100,000, bears the portrait of Woodrow Wilson. Although legal tender, it was not circulated but exchanged between central banks starting in 1934. The largest banknote currently printed is the $100 bill, as higher denominations were withdrawn in 1945.
6. Countries Using the U.S. Dollar: The article lists several countries and territories where the U.S. dollar is used, including American Samoa, British Virgin Islands, Ecuador, El Salvador, Guam, Puerto Rico, and others.
7. Currencies Pegged to the U.S. Dollar: It provides a list of currencies with fixed exchange rates to the U.S. dollar, such as the Bahraini Dinar, Hong Kong Dollar, Kuwaiti Dinar, and others.
8. Currency Reserves: According to the International Monetary Fund, the total broad money (M3) in USD at the end of 2021 was $27.249 trillion. Currency reserves for hedging were held at $716.15 billion, with approximately 67.1% in gold reserves and the remainder in foreign currencies and other positions.
9. Average Dollar Rate and Reference Rates: The European Central Bank determines and publishes annual average reference rates for converting the U.S. dollar into euros. The article provides historical reference rates, and as of the expected rate for 2023, it is around 1.0810 USD for 1 Euro.
10. Sources: The data presented in the article is sourced from reliable institutions such as the European Central Bank and the International Monetary Fund, ensuring accuracy and credibility in the information provided.
