An exchange rate represents the value of one currency in another. An exchange rate between two currencies fluctuates over time. This page records for various currencies the amount in that currency that is equal to one U.S. Dollar, the most widely traded currency in the world. The value of a currency relative to a third currency may be obtained by dividing one U.S. dollar rate by another. For example if there are ¥120 to the dollar and €1.2 to the dollar then the number of yen per euro is 120/1.2 = 100.
The magnitude of the numbers in the list do not indicate, by themselves, the strength or weakness of a particular currency. For example the U.S. Dollar could be rebased tomorrow so that 1 new dollar was worth 100 old dollars. Then all the numbers in the table would be multiplied by one hundred, but it does not mean all the world's currencies just got weaker. However it is useful to look at the variation over time of a particular exchange rate. If the number consistly increases through time, then it is a strong indication that the economy of the country or countries using that currency are in a less robust state than that of the United States (see e.g. the Turkish Lira). The exchange rates of advanced economies such as that Japan or Hong Kong against the dollar tend to fluctuate up and down, representing much shorter-term relative economic strengths, rather than move consistently in a particular direction.
The data for the years 1997-2002 refers to the rate on, or close to, 1st January on that year. Data for 2003 refers to rates on 28th May (for countries beginning A-E) and 2nd June (for countries listed F-Z). Exchange rates can vary considerably even within a year and so current rates may differ markedly from those shown here - caveat lector.
In December 1999 the Angolan kwanza was rebased. 1 new kwanza equals 1million old kwanza. In this table the new kwanza is used throughout.
The East Caribbean Dollar has been pegged at a fixed rate of 2.76 to the dollar since 1976.
The Argentine peso was pegged at equal parity to the US dollar until January 2002. Since then it has been allowed to float freely.
The Aruban guilder has been pegged to the US dollar since 1986.
On January 1, 2000 the Belarusian ruble was rebased. One new ruble is worth 2,000 old rubles. The new ruble is used throughout in this table.
The Belizean dollar is pegged to the US dollar.
The Communaute Financiere Africaine franc is pegged to the euro. Before 1999, it was pegged to the French Franc.
The Bhutan ngultrum is at par with the Indian rupee which is also legal tender.
From October 1994 through 14 January 1999, the official Brazilian rate was determined by a managed float; since 15 January 1999, the official rate floats independently with respect to the US dollar.
The Bruneian dollar is at par with the Singaporean dollar.
The Bulgarian lev was rebased on 5th July 1999. 1000 old levs are worth 1 new lev. New levs are used throughout this table.
The figures quoted are the official rate. The Burmese kyat is much weaker on the black market. At the end of 2000, the black market rate was 435 kyat to the dollar.
Prior to January 1999, the official rate was pegged to the French franc at 75 Comoran francs per French franc; since 1 January 1999, the Comoran franc is pegged to the euro at a rate of 491.9677 Comoran francs per euro.
On 30 June 1998 the Congolese franc was introduced, replacing the new zaire
The official, nonconvertible rate, for international transactions, is 1 Cuban peso per US dollar - 1.0000; the convertible peso sold for domestic use is fixed at a rate of 1.00 US dollar per 27 pesos by the Government of Cuba (January 2002).
The Cypriot pound is used in the Greek Cypriot area. The Turkish lira is used in the Turkish Cypriot area.
The Djiboutian franc has been pegged to the US dollar since 1973.
East Timor has been using the US dollar since independence from Indonesia in 2002.
On 13 March 2000, the Ecuadorian National Congress approved a new exchange system whereby the US dollar was adopted as the main legal tender in Ecuador for all purposes; on 20 March 2000, the Central Bank of Ecuador started to exchange sucres for US dollars at a fixed rate of 25,000 sucres per US dollar; since 30 April 2000, all transactions are denominated in US dollars, figures quoted in the table are in sucres for simplicity.
Since January 2001 the US dollar is also become legal tender in El Savalador; the exchange rate was then fixed at 8.75 colones per US dollar. From 1993 the rate had been fixed at 8.755.
Pegged to the euro at the quoted rate at 15.65
From 1997 to 2001, Iran had a multi-exchange-rate system; one of these rates, the official floating exchange rate, by which most essential goods were imported, averaged 1,750 rials per US dollar; in March 2002, the multi-exchange-rate system was converged into one rate at about 7,900 rials per US dollar
Black market rate
Official rate, Market rate 200 North Korean won per US dollar.
Official rate, Pre-2002 devaluation, market rate was around 1.5 dinar per US dollar.
Prior to 2002, Lithunian litas was pegged to the U.S. dollar, now pegged to the euro.
Pegged to the Hong Kong dollar at a rate of 1.03 patacas per HK dollar.
Russian ruble was rebased on January 11998, 1 new ruble is worth 1000 old rubles. All quoted figures refer to new roubles
Managed rate
The new unit of exchange was introduced on 30 October 2000, with one somoni equal to 1,000 of the old Tajikistani rubles.
References and acknowledgements
Some of the data in this table was originally collated for the CIA World Factbook.
2003 data was taken from [1] which also hosts a more comprehensive database of historical rates under a fairly permissive licence.
