Search results
Results from the WOW.Com Content Network
Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
IMF: Values are based upon GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). Exchange rate projections are provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.
Before the end of the gold standard, gold was the preferred reserve currency. Foreign-exchange reserves is generally used to intervene in the foreign exchange market to stabilize or influence the value of a country's currency. Central banks can buy or sell foreign currency to influence exchange rates directly. For example, if a currency is ...
Data from 1971 to 1991–92 are based on official exchange rates. Data from 1992 to 1993 onward are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates. Data from 1971 to 1972–73 for the Deutsche Mark and the Japanese Yen are cross rates with the US Dollar. The Euro replaced the Deutsche Mark w.e.f. January 1, 1999.
There is a large amount of U.S. dollars in circulation all around the planet; about 60% of funds used in international trade are U.S. dollars. The dollar is also used as the standard unit of currency in international markets for commodities such as gold and petroleum. [361]
For a more exhaustive discussion of countries using the U.S. dollar as official or customary currency, or using currencies which are pegged to the U.S. dollar, see International use of the U.S. dollar#Dollarization and fixed exchange rates and Currency substitution#US dollar. Countries using the U.S. dollar as their official currency include:
Exchanges within this limit require only a passport or Chinese ID and no additional documentation showing the purpose of the exchange. Currency exchange transactions are centrally registered. The maximum dollar withdrawal is $10,000 per day, the maximum purchase limit of US dollars is $500 per day.
The economy of Japan is a highly developed mixed economy, often referred to as an East Asian model. [23] It is the fourth-largest economy in the world by nominal GDP behind the United States, China, and Germany, and the fifth-largest by purchasing power parity (PPP), below India and Russia but ahead of Germany. [24]