Which Currencies Are Pegged To The Us Dollar
When it comes to international trade, the US dollar is one of the most widely accepted currencies in the world. In fact, many countries have chosen to peg their currencies to the US dollar in order to stabilize their economies and facilitate trade with the United States. Here are some of the currencies that are currently pegged to the US dollar:
1. Hong Kong Dollar
Since 1983, the Hong Kong dollar has been pegged to the US dollar at a rate of HKD 7.8 to USD 1. This peg has helped to maintain the stability of Hong Kong's economy and has made it easier for businesses to trade with the United States.
2. Saudi Arabian Riyal
The Saudi Arabian riyal has been pegged to the US dollar since 1986 at a rate of SAR 3.75 to USD 1. This has helped to stabilize the Saudi Arabian economy and has made it easier for businesses to trade with the United States.
3. United Arab Emirates Dirham
The United Arab Emirates dirham has been pegged to the US dollar since 1997 at a rate of AED 3.67 to USD 1. This has helped to maintain the stability of the UAE's economy and has made it easier for businesses to trade with the United States.
4. Bahamian Dollar
The Bahamian dollar has been pegged to the US dollar since 1966 at a rate of BSD 1 to USD 1. This has helped to maintain the stability of the Bahamas' economy and has made it easier for businesses to trade with the United States.
5. Cayman Islands Dollar
The Cayman Islands dollar has been pegged to the US dollar since 1972 at a rate of KYD 1 to USD 1. This has helped to maintain the stability of the Cayman Islands' economy and has made it easier for businesses to trade with the United States.
6. Liberian Dollar
The Liberian dollar has been pegged to the US dollar since 1944 at a rate of LRD 1 to USD 1. This has helped to maintain the stability of Liberia's economy and has made it easier for businesses to trade with the United States.
7. Bermudian Dollar
The Bermudian dollar has been pegged to the US dollar since 1972 at a rate of BMD 1 to USD 1. This has helped to maintain the stability of Bermuda's economy and has made it easier for businesses to trade with the United States.
8. Brunei Dollar
The Brunei dollar has been pegged to the US dollar since 1967 at a rate of BND 1 to USD 1. This has helped to maintain the stability of Brunei's economy and has made it easier for businesses to trade with the United States.
9. East Caribbean Dollar
The East Caribbean dollar has been pegged to the US dollar since 1976 at a rate of XCD 2.70 to USD 1. This has helped to maintain the stability of the economies of the member states of the Eastern Caribbean Currency Union and has made it easier for businesses to trade with the United States.
10. Panama Balboa
The Panama balboa has been pegged to the US dollar since 1904 at a rate of PAB 1 to USD 1. This has helped to maintain the stability of Panama's economy and has made it easier for businesses to trade with the United States.
These are just a few of the currencies that are pegged to the US dollar. By pegging their currencies to the US dollar, these countries are able to stabilize their economies and facilitate trade with the United States.