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On January 28, 1978, the dirham was officially pegged to the IMF's special drawing rights (SDRs). [11] In practice, it has been pegged to the U.S. dollar for most of the time. [12] Since November 1997, the dirham has been pegged to the US dollar at a rate of US$1 = Dhs 3.6725, [13] which translates to approximately Dh 1 = US$0.272294.
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:
The central parity rate of the Renminbi against the US dollar opened at 6.9249, a drop of 373 basis points from the previous trading day. [295] It fell below the 7.00 than an hour after the opening, [296] and closed at 7.0257. [297] The World Bank expects China to grow by just 0.1–2.3%, the lowest growth rate in decades. [298]
USD/JPY exchange rate 1971–2023. The yen (Japanese: 円, symbol: ¥; code: JPY) is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar and the euro. [2] It is also widely used as a third reserve currency after the US dollar and the euro.