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Within the context of finance, an exchange rate is the rate at which a currency is exchanged for another currency. These currencies are typically national, although some exceptions exist. For example, the Hong Kong dollar is a sub-national currency, while the euro is a supra-national currency.
Economists also view the exchange rate between two currencies as the value of one currency in terms of the other currency. Each country or other government determines the exchange rate regime that applies to its currency, which primarily includes a floating, fixed or hybrid regime. Governments may also impose additional controls and restrictions on exchange rates involving their currency. While economists generally consider free trade to be the ideal trade policy, they have no such agreement on the optimal policy for exchange rates. Instead, exchange rate policies primarily reflect political considerations rather than economic ones.
A foreign exchange market determines the exchange rate in a floating exchange rate regime. This currency exchange market is accessible to a range of investors, who continuously trade that market's currencies except during the weekend. Several types of exchange rates exist in currency exchange markets. For example, the spot exchange rate is the exchange rate at the present time. In comparison, the forward exchange rate is a rate that a seller quotes for the delivery and payment of a currency at a specified future date.
Currency dealers quote many different rates for buying and selling currencies in retail currency exchange markets, which typically trade in the local currency. A buying rate is the rate at which traders will buy a foreign currency with the local currency, while a selling rate is the rate at which they will sell a foreign currency for local currency. Quoted rates may include the dealer's profit in the trade, but dealers can also make their profit in other ways like a commission.
In addition, currency dealers may quote different rates for different exchange mediums, such as cash, electronic transfers and documentary transactions. For example, documentary transactions have a higher exchange rate than cash to cover the cost of compensating dealers for the time and cost of clearing the document.
Country | Exchange Rate | National Currency | Currency Code | Effective Date |
---|---|---|---|---|
Iran | 378,075 | Iranian Rial | IRR | 05-01-2023 |
Lebanon | 86,500 | Lebanese Pound | LBP | 05-01-2023 |
Somalia | 24,300 | Somali Shilling | SOS | 05-01-2023 |
Laos | 17,230 | Laos Kip | LAK | 05-01-2023 |
Indonesia | 14,703 | Indonesia Rupiah | IDR | 05-01-2023 |
Uzbekistan | 11,398 | Uzbekistan Sum | UZS | 05-01-2023 |
Guinea | 8,503 | Guinean Franc | GNF | 05-01-2023 |
Paraguay | 7,243 | Paraguay Guarani | PYG | 05-01-2023 |
Syria | 6,500 | Syrian Pound | SYP | 05-01-2023 |
Colombia | 4,628 | Colombian Peso | COP | 05-01-2023 |
Madagascar | 4,396 | Malagasy Ariary, Madagascar | MGA | 05-01-2023 |
Cambodia | 4,066 | Cambodian Riel | KHR | 05-01-2023 |
Uganda | 3,735 | Uganda Shilling | UGX | 05-01-2023 |
Mongolia | 3,475 | Mongolia Tugrik | MNT | 05-01-2023 |
Tanzania | 2,343 | Tanzania Shilling | TZS | 05-01-2023 |
Myanmar | 2,100 | Myanmar Kyat | MMK | 05-01-2023 |
Burundi | 2,066 | Burundi Franc | BIF | 05-01-2023 |
DR Congo | 2,035 | Congo Franc, Dem. Rep.of | CDF | 05-01-2023 |
South Korea | 1,338 | Korean Won, South Korea | KRW | 05-01-2023 |
Iraq | 1,310 | Iraqi Dinar | IQD | 05-01-2023 |
Rwanda | 1,101 | Rwanda Franc | RWF | 05-01-2023 |
Malawi | 1,036 | Malawi Kwacha | MWK | 05-01-2023 |
Zimbabwe | 1,011 | Zimbabwe RTGS dollar | ZWL | 05-01-2023 |
South Sudan | 873 | South Sudanese Pound | SSP | 05-01-2023 |
Chile | 803 | Chilean Peso | CLP | 05-01-2023 |
Ivory Coast | 596 | CFA Franc | XOF | 05-01-2023 |
Cameroon | 596 | CFA Franc | XAF | 05-01-2023 |
Niger | 596 | CFA Franc | XOF | 05-01-2023 |
Mali | 596 | CFA Franc | XOF | 05-01-2023 |
Burkina Faso | 596 | CFA Franc | XOF | 05-01-2023 |
Chad | 596 | CFA Franc | XAF | 05-01-2023 |
Senegal | 596 | CFA Franc | XOF | 05-01-2023 |
Benin | 596 | CFA Franc | XOF | 05-01-2023 |
Togo | 596 | CFA Franc | XOF | 05-01-2023 |
Republic of the Congo | 596 | CFA Franc | XAF | 05-01-2023 |
Central African Republic | 596 | CFA Franc | XAF | 05-01-2023 |
Gabon | 596 | CFA Franc | XAF | 05-01-2023 |
Guinea Bissau | 596 | CFA Franc | XOF | 05-01-2023 |
Equatorial Guinea | 596 | CFA Franc | XAF | 05-01-2023 |
Sudan | 593 | Sudanese Pound | SDG | 05-01-2023 |
Costa Rica | 532 | Costa Rica Colon | CRC | 05-01-2023 |
Yemen | 528 | Yemeni Rial | YER | 05-01-2023 |
Angola | 506 | Angolan Kwanza | AOA | 05-01-2023 |
Nigeria | 463 | Nigeria Naira | NGN | 05-01-2023 |
Kazakhstan | 455 | Kazakhstan Tenge | KZT | 05-01-2023 |
Comoros | 447 | Comoros Franc | KMF | 05-01-2023 |
Armenia | 384 | Armenian Dram | AMD | 05-01-2023 |
Hungary | 339 | Hungary Forint | HUF | 05-01-2023 |
Sri Lanka | 320 | Sri Lanka Rupee | LKR | 05-01-2023 |
Pakistan | 283 | Pakistani Rupee | PKR | 05-01-2023 |
Argentina | 222 | Argentine Peso | ARS | 05-01-2023 |
Guyana | 210 | Guyana Dollar | GYD | 05-01-2023 |
Djibouti | 177 | Djibouti Francs | DJF | 05-01-2023 |
Liberia | 162 | Liberian Dollar | LRD | 05-01-2023 |
Haiti | 154 | Haiti Gourde | HTG | 05-01-2023 |
Jamaica | 152 | Jamaican Dollar | JMD | 05-01-2023 |
Iceland | 136 | Iceland Krona | ISK | 05-01-2023 |
Kenya | 136 | Kenyan Shilling | KES | 05-01-2023 |
Algeria | 135 | Algerian Dinar | DZD | 05-01-2023 |
Japan | 134 | Japanese Yen | JPY | 05-01-2023 |
Nepal | 131 | Nepalese Rupee | NPR | 05-01-2023 |
Vanuatu | 115 | Vanuatu Vatu | VUV | 05-01-2023 |
North Korea | 110 | Korean Won, North Korea | KPW | 05-01-2023 |
French Polynesia | 108 | CFP Franc | XPF | 05-01-2023 |
New Caledonia | 108 | CFP Franc | XPF | 05-01-2023 |
Wallis and Futuna | 108 | CFP Franc | XPF | 05-01-2023 |
Serbia | 107 | Serbian Dinar | RSD | 05-01-2023 |
Bangladesh | 105 | Bangladesh Taka | BDT | 05-01-2023 |
Cape Verde | 100 | Cape Verde Escudo | CVE | 05-01-2023 |
Albania | 100 | Albania Lek(e) | ALL | 05-01-2023 |
Kyrgyzstan | 88 | Kyrgyzstan Som | KGS | 05-01-2023 |
Afghanistan | 85 | Afghanistan Afghani | AFN | 05-01-2023 |
India | 82 | Indian Rupee | INR | 05-01-2023 |
Bhutan | 82 | Bhutan Ngultrum | BTN | 05-01-2023 |
Russia | 81 | Russian Rouble | RUB | 05-01-2023 |
Mozambique | 63 | Mozambique Metical | MZN | 05-01-2023 |
Gambia | 60 | Gambian Dalasi | GMD | 05-01-2023 |
Philippines | 56 | Philippine Peso | PHP | 05-01-2023 |
North Macedonia | 56 | Denar | MKD | 05-01-2023 |
Dominican Republic | 54 | Dominican Peso | DOP | 05-01-2023 |
Ethiopia | 54 | Ethiopian Birr | ETB | 05-01-2023 |
Mauritius | 44 | Mauritius Rupee | MUR | 05-01-2023 |
Uruguay | 39 | Uruguay Peso | UYU | 05-01-2023 |
Suriname | 37 | Surinamese Dollar | SRD | 05-01-2023 |
Ukraine | 37 | Ukraine Hryvnia | UAH | 05-01-2023 |
Nicaragua | 36 | Nicaragua Cordoba Oro | NIO | 05-01-2023 |
Thailand | 34 | Thai Baht | THB | 05-01-2023 |
Mauritania | 34 | Mauritania Ouguiya | MRU | 05-01-2023 |
Egypt | 31 | Egyptian Pound | EGP | 05-01-2023 |
Venezuela | 25 | Bolivar Digital | VES | 05-01-2023 |
Honduras | 24 | Honduras Lempira | HNL | 05-01-2023 |
Cuba | 24 | Cuban Peso | CUP | 05-01-2023 |
Sao Tome and Principe | 23 | Sao Tome Principe Dobra | STN | 05-01-2023 |
Sierra Leone | 22 | Sierra Leone Leone | SLE | 05-01-2023 |
Czech Republic | 21 | Czech Koruna | CZK | 05-01-2023 |
Turkey | 19 | Turkish Lira | TRY | 05-01-2023 |
South Africa | 18 | South Africa Rand | ZAR | 05-01-2023 |
Namibia | 18 | Namibia Dollar | NAD | 05-01-2023 |
Lesotho | 18 | Lesotho Loti | LSL | 05-01-2023 |
Eswatini | 18 | Lilangeni | SZL | 05-01-2023 |
Mexico | 18 | Mexican Peso | MXN | 05-01-2023 |
Moldova | 18 | Moldovan Leu | MDL | 05-01-2023 |
Zambia | 18 | Zambia Kwacha | ZMW | 05-01-2023 |
Eritrea | 15 | Eritrea Nakfa | ERN | 05-01-2023 |
Maldives | 15 | Maldives Rufiyaa | MVR | 05-01-2023 |
Seychelles | 13 | Seychelles Rupee | SCR | 05-01-2023 |
Botswana | 13 | Botswana Pula | BWP | 05-01-2023 |
Ghana | 12 | Ghana Cedi | GHS | 05-01-2023 |
Tajikistan | 11 | Tajikistan Somoni | TJS | 05-01-2023 |
Norway | 11 | Norwegian Krone | NOK | 05-01-2023 |
Sweden | 10 | Swedish Krona | SEK | 05-01-2023 |
Morocco | 10 | Morocco Dirham | MAD | 05-01-2023 |
Solomon Islands | 8 | Solomon Is. Dollar | SBD | 05-01-2023 |
Hong Kong | 8 | HongKong Dollar | HKD | 05-01-2023 |
Guatemala | 8 | Guatemala Quetzal(es) | GTQ | 05-01-2023 |
China | 7 | Chinese Renminbi | CNY | 05-01-2023 |
Bolivia | 7 | Bolivia Boliviano | BOB | 05-01-2023 |
Croatia | 7 | Croatia Kuna | HRK | 05-01-2023 |
Denmark | 7 | Danish Krone | DKK | 05-01-2023 |
Greenland | 7 | Danish Krone | DKK | 05-01-2023 |
Trinidad and Tobago | 7 | Trinidad and Tobago Dollar | TTD | 05-01-2023 |
Brazil | 5 | Brazilian Real | BRL | 05-01-2023 |
Libya | 5 | Libyan Dinar | LYD | 05-01-2023 |
Romania | 4 | Romanian Leu | RON | 05-01-2023 |
Malaysia | 4 | Malaysia Ringgit | MYR | 05-01-2023 |
Poland | 4 | Poland Zloty | PLN | 05-01-2023 |
Saudi Arabia | 4 | Saudi Riyal | SAR | 05-01-2023 |
Peru | 4 | Sol | PEN | 05-01-2023 |
United Arab Emirates | 4 | United Arab Emirates Dirham | AED | 05-01-2023 |
Qatar | 4 | Qatari Rial | QAR | 05-01-2023 |
Israel | 4 | Israel Shekel | ILS | 05-01-2023 |
Papua New Guinea | 4 | Kina | PGK | 05-01-2023 |
Turkmenistan | 4 | Turkmenistan Manat | TMT | 05-01-2023 |
Tunisia | 3 | Tunisian Dinar | TND | 05-01-2023 |
Belarus | 3 | Belarusian Ruble | BYN | 05-01-2023 |
Saint Lucia | 3 | E.C. Dollar | XCD | 05-01-2023 |
Grenada | 3 | E.C. Dollar | XCD | 05-01-2023 |
Saint Vincent and the Grenadines | 3 | E.C. Dollar | XCD | 05-01-2023 |
Antigua and Barbuda | 3 | E.C. Dollar | XCD | 05-01-2023 |
Dominica | 3 | E.C. Dollar | XCD | 05-01-2023 |
Saint Kitts and Nevis | 3 | E.C. Dollar | XCD | 05-01-2023 |
Anguilla | 3 | E.C. Dollar | XCD | 05-01-2023 |
Montserrat | 3 | E.C. Dollar | XCD | 05-01-2023 |
Samoa | 3 | Samoa Tala | WST | 05-01-2023 |
Georgia | 3 | Georgian Lari | GEL | 05-01-2023 |
Tonga | 2 | Tonga Pa'anga | TOP | 05-01-2023 |
Fiji | 2 | Fiji Dollar | FJD | 05-01-2023 |
Belize | 2 | Belize Dollar | BZD | 05-01-2023 |
Barbados | 2 | Barbados Dollar | BBD | 05-01-2023 |
Aruba | 2 | Aruban Guilder | AWG | 05-01-2023 |
Bulgaria | 2 | Bulgarian Lev | BGN | 05-01-2023 |
Bosnia and Herzegovina | 2 | Bosnia and Herzegovina Convertible Mark | BAM | 05-01-2023 |
Azerbaijan | 2 | Azerbaijan Manat | AZN | 05-01-2023 |
New Zealand | 2 | New Zealand Dollar | NZD | 05-01-2023 |
Cook Islands | 2 | New Zealand Dollar | NZD | 05-01-2023 |
Niue | 2 | New Zealand Dollar | NZD | 05-01-2023 |
Australia | 2 | Australian Dollar | AUD | 05-01-2023 |
Kiribati | 2 | Australian Dollar | AUD | 05-01-2023 |
Nauru | 2 | Australian Dollar | AUD | 05-01-2023 |
Tuvalu | 2 | Australian Dollar | AUD | 05-01-2023 |
Canada | 1 | Canadian Dollar | CAD | 05-01-2023 |
Singapore | 1 | Singapore Dollar | SGD | 05-01-2023 |
Brunei | 1 | Brunei Dollar | BND | 05-01-2023 |
Ecuador | 1 | US Dollar | USD | 05-01-2023 |
El Salvador | 1 | US Dollar | USD | 05-01-2023 |
Panama | 1 | Panama Balboa | PAB | 05-01-2023 |
Puerto Rico | 1 | US Dollar | USD | 05-01-2023 |
Bahamas | 1 | Bahamian Dollar | BSD | 05-01-2023 |
Guam | 1 | US Dollar | USD | 05-01-2023 |
Micronesia | 1 | US Dollar | USD | 05-01-2023 |
United States Virgin Islands | 1 | US Dollar | USD | 05-01-2023 |
Bermuda | 1 | Bermuda Dollar | BMD | 05-01-2023 |
Northern Mariana Islands | 1 | US Dollar | USD | 05-01-2023 |
Turks and Caicos Islands | 1 | US Dollar | USD | 05-01-2023 |
American Samoa | 1 | US Dollar | USD | 05-01-2023 |
Marshall Islands | 1 | US Dollar | USD | 05-01-2023 |
Palau | 1 | US Dollar | USD | 05-01-2023 |
Germany | 1 | Euro | EUR | 05-01-2023 |
France | 1 | Euro | EUR | 05-01-2023 |
Italy | 1 | Euro | EUR | 05-01-2023 |
Spain | 1 | Euro | EUR | 05-01-2023 |
Netherlands | 1 | Euro | EUR | 05-01-2023 |
Belgium | 1 | Euro | EUR | 05-01-2023 |
Greece | 1 | Euro | EUR | 05-01-2023 |
Portugal | 1 | Euro | EUR | 05-01-2023 |
Austria | 1 | Euro | EUR | 05-01-2023 |
Slovakia | 1 | Euro | EUR | 05-01-2023 |
Finland | 1 | Euro | EUR | 05-01-2023 |
Ireland | 1 | Euro | EUR | 05-01-2023 |
Lithuania | 1 | Euro | EUR | 05-01-2023 |
Slovenia | 1 | Euro | EUR | 05-01-2023 |
Latvia | 1 | Euro | EUR | 05-01-2023 |
Estonia | 1 | Euro | EUR | 05-01-2023 |
Cyprus | 1 | Euro | EUR | 05-01-2023 |
Reunion | 1 | Euro | EUR | 05-01-2023 |
Luxembourg | 1 | Euro | EUR | 05-01-2023 |
Montenegro | 1 | Euro | EUR | 05-01-2023 |
Malta | 1 | Euro | EUR | 05-01-2023 |
Guadeloupe | 1 | Euro | EUR | 05-01-2023 |
Martinique | 1 | Euro | EUR | 05-01-2023 |
French Guiana | 1 | Euro | EUR | 05-01-2023 |
Andorra | 1 | Euro | EUR | 05-01-2023 |
Monaco | 1 | Euro | EUR | 05-01-2023 |
San Marino | 1 | Euro | EUR | 05-01-2023 |
Switzerland | 1 | Swiss Franc | CHF | 05-01-2023 |
Liechtenstein | 1 | Swiss Franc | CHF | 05-01-2023 |
Cayman Islands | 1 | Cayman Is. Dollar | KYD | 05-01-2023 |
United Kingdom | 1 | U.K. Pound | GBP | 05-01-2023 |
Gibraltar | 1 | Gibraltar Pound | GIP | 05-01-2023 |
Jordan | 1 | Jordanian Dinar | JOD | 05-01-2023 |
Oman | 0 | Oman Rial | OMR | 05-01-2023 |
Bahrain | 0 | Bahraini Dinar | BHD | 05-01-2023 |
Kuwait | 0 | Kuwaiti Dinar | KWD | 05-01-2023 |