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The trade-weighted dollar represents the foreign currency price of the U.S. dollar or the export value of the U.S. dollar. When these index numbers increase, the value of the dollar increases, making it easier for Americans to afford imports, but making American exports more expensive to those in other countries.

Currency Markets

The price of one country's monetary units, its currency, in terms of another country's currency is called a foreign currency exchange rate. Here is an example: The exchange rate between the U.S. dollar (US$) and the German mark (deutschmark or DM) may be 1.5 marks per dollar or simply abbreviated DM 1.5000/US$. This is the same exchange rate as when it is stated US$1.00 = DM 1.50. Since most international business activities require at least one of the two parties to first purchase the other country's currency before purchasing any good, service or asset, a proper understanding of exchange rates and exchange rate markets is very important to the conduct of international business.

 

Exchange Rates

The New York foreign exchange mid-range rates below apply to trading among banks in amounts of $1 million and more, as quoted at 4 a.m. Eastern time by Telerate and other sources. Retail transactions provide fewer units of foreign currency per dollar. Rates for the 11 Euro currency countries are derived from the latest dollar euro rate using the exchange ratios set 1/1/99.

 

Currency Trading Chart
 Last updated 3/4/99
 U.S. $ equivalent
Currency per U.S. $ 
Country
Wed
Tue
Wed
Tue
 Argentina

1.0002

1.0002

.9998

.9998

 Australia

.6217

.6227

1.6086

1.6060

 Austria

.07913

.07947

12638

12584

 Bahrain

2.6525

2.6386

.3770

.3790

 Belgium

.02699

.02711

37.050

36.891

 Brazil

.4673

.4630

2.1400

2.1600

 Britain

1.6138

1.6160

.6197

.6188

 1-month

1.6129

1.6152

.6200

.6191

 3-months forward

1.6121

1.6146

.6203

.6193

 6-months forward

1.6122

1.6151

.6203

.6192

 Canada

.6551

.6570

1.5265

1.5220

 1-month

.6550

.6570

1.5267

1.5222

 3-months forward

.6550

.6569

1.5268

1.5223

 6-months forward

.6550

.6567

1.5268

1.5226

 Chile

.002002

.001989

499.45

502.65

 China

.1208

.1208

8.2789

8.2789

 Columbia

.0006419

.0006409

1557.94

1560.40

 Czech. Rep.

.02897

.02906

34.518

34.414

 Denmark

.1464

.1471

6.8285

6.7995

 Ecuador

.0001002

.0001002

9984.50

9984.50

 Finland

.1831

.1839

5.4608

5.4373

 France

.1660

.1660

6.0246

5.9987

 1-month

.1663

.1670

6.0148

5.9889

 3-months forward

.1668

.1675

5.9961

5.9702

 6-months forward

.1677

.1684

5.9641

5.9382

 Germany

.5567

.5591

1.7963

1.7886

 1-month

.5576

.5600

1.7934

1.7856

 3-months forward

.5593

.5618

1.7878

1.7801

 6-months forward

.5623

.5648

1.7783

1.7705

Greece

.003385

.003396

295.38

294.51

 Hong Kong

.1290

.1291

7.7495

7.7477

 Hungary

.004288

.004330

233.22

230.96

 India

.02352

.02352

42.515

42.515

 Indonesia

.0001125

.0001127

8885.00

8870.00

 Ireland

1.3826

1.3885

.7233

.7202

 Israel

.2468

.2470

4.0522

4.0488

 Italy

.0005623

.0005647

1778.35

1770.71

 Japan

.008207

.008317

121.84

120.23

 1-month forward

.008241

.008352

121.34

119.73

 3-months forward

.009311

.008419

120.33

118.78

 6-months forward

.008417

.008532

118.81

117.21

 Jordan

1.4055

1.4045

.7115

.7120

 Kuwait

3.2819

3.2819

.3047

.3047

 Lebanon

.0006616

.0006616

1511.50

1511.50

 Malaysia

.2632

.2632

3.8000

3.8000

 Malta

2.5387

2.5419

.3939

.3934

 Mexico

.1005

.1005

9.9475

9.9490

 Netherlands

.4941

.4969

2.0240

2.0153

 New Zealand

.5278

.5291

1.8947

1.8900

 Norway

.1260

.1264

7.9343

7.9108

 Pakistan

.01957

.01952

51.110

51.235

 Peru

.2946

.2948

3.3940

3.3925

 Philippines

.02558

.02561

39.100

39.050

 Poland

.2516

.2521

3.9745

3.9670

 Portugal

.005431

.005454

184.13

183.34

 Russia

.04361

.04369

22.930

22.890

 Saudi Arabia

.2666

.2666

3.7510

3.7506

 Singapore

.5754

.5771

1.7380

1.7328

 Slovak Rep.

.02498

.02499

40.037

40.010

 South Africa

.1603

.1602

6.2400

6.2430

 South Korea

.0008135

.0008168

1229.30

1224.35

 Spain

.006544

.006572

152.82

152.16

 Sweden

.1211

.1213

8.2595

8.2440

 Switzerland

.6849

.6866

1.4601

1.4565

 1-month

.6871

.6888

1.4555

1.4517

 3-months forward

.6913

.6929

1.4466

1.4431

 6-months forward

.6978

.6996

1.4331

1.4293

 Taiwan

.03021

.03023

33.100

33.075

 Thailand

.02654

.02664

37.685

37.535

 Turkey

.00000280

.00000281

357340.00

356480.00

 United Arab

.2723

.2700

3.6730

3.7040

 Uruguay

.09246

.09095

11.055

10.995

 Venezuela

.001736

.001736

576.00

576.00

 
 SDR

1.3599

1.3592

.7353

.7357

 Euro

1.0888

1.0935

.9184

.9145

Special Drawing Rights (SDR) are based on exchange rates for the U.S., German, British, French, and Japanese currencies. Source: International Monetary Fund.