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In 2022, it was the fourth-most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. [9] Together with those three currencies and the renminbi , it forms the basket of currencies that calculate the value of IMF special drawing rights .
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.
The United States dollar (symbol: $; currency code: USD; also abbreviated US$ to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.
[8] [9] The US dollar exchange hit its lowest point since 29 August 2022, dropping from roughly US$1 = R$5.30 immediately before the second round of the election, to about US$1 = R$5.05 a week after Lula's win. However, two years into Lula's government, at 29 November 2024, the US dollar exchange hit its highest point in history of US$1=R$6.10.
When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.