US Dollar

US Dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its territories per the United States Constitution since 1792. For most practical purposes, it is divided into 100 smaller cent (¢) units, but is occasionally divided into 1000 mills (₥) for accounting purposes. The circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars (12 U.S.C. § 418). Since the suspension in 1971 of convertibility of paper U.S. currency into any precious metal, the U.S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U.S. dollar is the world's primary reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins (such as the Sacagawea or presidential dollar). As of June 27, 2018, there are approximately $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes (the remaining $50 billion is in the form of coins).

IMF Special Drawing Rights

IMF Special Drawing Rights

Special drawing rights (ISO 4217 currency code XDR, also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The XDR is the unit of account for the IMF, and is not a currency per se. XDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged. The XDR was created in 1969 to supplement a shortfall of preferred foreign-exchange reserve assets, namely gold and the U.S. dollar.XDRs are allocated to countries by the IMF. Private parties do not hold or use them. The amount of XDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion were allocated to "provide liquidity to the global economic system and supplement member countries’ official reserves". By October 2014, the amount of XDRs in existence was XDR 204 billion.The value of the XDR is based on a basket of key international currencies reviewed by IMF every five years. The weights assigned to each currency in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves. In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016. From that date, the XDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%.

1 US Dollar to IMF Special Drawing Rights exchange rates chart

1 USD to XDR exchange rates graph
1 USD to XDR Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

1 USD to XDR exchange rates table

Exchange USD to XDR
1 US Dollar = 0.716 IMF Special Drawing Rights
2 US Dollar = 1.432 IMF Special Drawing Rights
5 US Dollar = 3.581 IMF Special Drawing Rights
10 US Dollar = 7.162 IMF Special Drawing Rights
Exchange US Dollar to IMF Special Drawing Rights
1 US Dollar to IMF Special Drawing Rights Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

1 USD to XDR exchange rates news

Jamaican dollar dips more than $1 against US in a day

The Jamaican dollar depreciated by $1.08 against the US dollar on Thursday, according to the trading summary from the Bank of Jamaica (BOJ). It closed at $130.65 again

5 days indicative negative
U.S. dollar closes higher on Taipei forex market | Economics | FOCUS TAIWAN - CNA ENGLISH NEWS

Taipei, Jan. 11 (CNA) The U.S. dollar rose against the Taiwan dollar Friday, gaining NT$0.020 to close at NT$30.802.

5 days indicative positive
Dollar Slides As US Consumer Inflation Falls

CANBERA (Alliance News) - The US dollar was lower against its most major counterparts in the ...

5 days conditional positive
OUTLOOK 2019 Iran

The Islamic Republic’s fate is wrapped up in that of Donald Trump. To throttle Iran’s economy he’ll need to stay able to project his power.

12 days conditional neutral
Jim Rickards: Gold price has been locked to SDRs and global monetary reset is under way

Since 1995, news.GoldSeek.com publishes the leading gold news commentaries, gold market updates and reports providing gold investors with the most updated gold and silver prices, news & precious metals information!

about 2 months conditional neutral

1 USD to XDR currency converter