Dollar Rate
Categories: Bonds, International, Forex
Every currency looks at the U.S. dollar and sighs a big sigh. It’s so famous, so stable, so Hollywood. Since the USD has been the world’s strongest currency for a while now, everyone pays attention to the dollar rate of their own currency.
The dollar rate is the exchange rate of a currency compared to the U.S. dollar. When you go to exchange your USD for some Thai baht, Chinese renminbi, or Canadian dollars, how much money you get back depends on the exchange rate (and the fees the place is charging you).
If you stayed in a foreign country for a while, and always took out, say, $500 USD every month in the foreign currency, you might get different amounts of the foreign currency each time. This reflects how the dollar rate for that foreign currency is changing over time.
Check out dollar rate trends online before heading to the ATM.