Dollar and Pound rise, Euro declines: Foreign exchange rates in the official market (December 17, 2025)

The **US dollar** (symbol: **$**, code: **USD**) is the official currency of the **United States of America** and one of the world’s primary **reserve currencies**. It is widely used in international trade, finance, and as a benchmark in global markets.

### Key Facts:
– **Issuing Authority**: The US dollar is issued by the **Federal Reserve System** (the central bank of the United States).
– **Subunits**: 1 dollar = 100 **cents**.
– **Common Coins**: 1¢ (penny), 5¢ (nickel), 10¢ (dime), 25¢ (quarter), and less commonly 50¢ and $1 coins.
– **Common Banknotes**: $1, $2, $5, $10, $20, $50, and $100 bills (though $2 notes are rare in circulation).

### Global Role:
– The US dollar is the most traded currency in the **foreign exchange market**.
– Many countries **peg their own currencies** to the dollar or use it alongside their local currency.
– Key commodities like **oil and gold** are often priced in USD.

### History:
– The dollar was adopted by the United States in 1792 with the **Coinage Act**.
– It has gone through several monetary systems, including the **gold standard** (abandoned in 1971).

### Slang Terms:
– **Bucks** (e.g., “10 bucks” = $10)
– **Greenbacks** (referring to the green ink on the back of bills)
– **Benjamins** (referring to $100 bills, which feature Benjamin Franklin)

Would you like more details on exchange rates, historical trends, or how the dollar impacts global economics?

“Euro” is the official currency of the **Eurozone**, which consists of 20 of the 27 European Union (EU) member states. It is one of the world’s most important currencies, widely used in international trade and finance.

### Key Facts:
– **Symbol:** €
– **ISO Code:** EUR
– **Managed by:** The European Central Bank (ECB) and the Eurosystem.
– **Adoption:** Launched in 1999 for electronic payments, with banknotes and coins introduced in 2002.

### Eurozone Countries:
Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

### Usage Beyond the Eurozone:
Several non-EU countries and territories, like Montenegro and Kosovo, also use the euro unilaterally.

### Importance:
– The euro is the second-most traded currency in the world after the U.S. dollar.
– It plays a key role in global reserves and financial markets.

Would you like more details on its history, exchange rates, or economic impact?

Of course. Here is a detailed overview of the **British Pound Sterling**.

### **Quick Facts**
* **Currency Code:** GBP (Great British Pound)
* **Symbol:** £
* **Subunit:** Penny (p); 100 pence = £1
* **Central Bank:** Bank of England
* **Common Nicknames:** Pound, Quid, Sterling

### **Introduction**
The British Pound Sterling is the official currency of the United Kingdom (England, Scotland, Wales, and Northern Ireland). It is the world’s oldest currency still in continuous use, with a history spanning over 1,200 years. It is also one of the most traded currencies in the global foreign exchange market, alongside the US Dollar, Euro, and Japanese Yen.

### **History & Significance**
* **Origins:** Its name originates from the Latin *libra pondo* (a pound weight of silver). The “pound” was a unit of account, and “sterling” referred to the high-quality silver used.
* **World’s Reserve Currency:** Before the US Dollar, the Pound Sterling was the primary global reserve currency throughout the 19th and early 20th centuries, reflecting the economic power of the British Empire.
* **Decimalisation:** In 1971, the UK decimalised its currency, moving from the old system (£1 = 20 shillings = 240 pence) to the simpler current system (£1 = 100 pence).

### **Banknotes and Coins**
* **Issuance:** Banknotes are issued by the **Bank of England** (for England and Wales) and by several commercial banks in **Scotland and Northern Ireland**. These Scottish and Northern Irish notes are legal currency but are technically “promises to pay” Bank of England notes.
* **Polymer Notes:** The UK has transitioned to more secure and durable polymer banknotes. Current circulating notes feature prominent historical figures:
* £5: Sir Winston Churchill
* £10: Jane Austen
* £20: J.M.W. Turner
* £50: Alan Turing
* **Coins:** Coins are issued by the Royal Mint. They feature a portrait of the monarch on the “heads” side. The 12-sided £1 coin and the bimetallic £2 coin are distinctive.

### **Usage**
* The Pound Sterling is legal tender in the UK.
* It is also used in the **British Overseas Territories** (e.g., Gibraltar, Falkland Islands, Saint Helena), which issue their own local versions of the pound pegged at 1:1 with GBP.
* **Not in the Euro:** The UK chose not to adopt the Euro, maintaining the Pound as its currency.

### **Economic Importance**
* **Major Currency Pair:** The GBP/USD pair, known as **”Cable”** in forex trading, is one of the most liquid and heavily traded pairs in the world.
* **Safe-Haven Status:** While less so than the US Dollar or Swiss Franc, the Pound is often considered a relatively stable currency due to the UK’s long-established financial and legal institutions.
* **Impact of Brexit:** The 2016 Brexit referendum and the subsequent withdrawal from the European Union caused significant volatility and a depreciation in the Pound’s value, as markets adjusted to new trade and economic realities.

### **Fun Fact**
The Pound Sterling is sometimes abbreviated to just **”Sterling,”** especially in financial contexts (e.g., “payment in Sterling”). The slang term **”Quid”** (singular and plural) is used informally, much like “bucks” for US dollars.

In summary, the British Pound Sterling is a currency of immense historical depth, global financial importance, and a key symbol of British economic and political identity.

The **Saudi Riyal** (currency code: **SAR**, symbol: **ر.س** or **SR**) is the official currency of the Kingdom of Saudi Arabia. It is issued by the Saudi Central Bank (formerly known as the Saudi Arabian Monetary Authority, or SAMA).

### Key Details:
– **Subdivision**: 1 Riyal = 100 Halalas.
– **Coins**: Halala coins (5, 10, 25, 50) and Riyal coins (1, 2).
– **Banknotes**: Commonly in denominations of 5, 10, 50, 100, 200, and 500 Riyals.

### Exchange Rate:
The Riyal is **pegged to the US Dollar** at a fixed rate of:
**1 USD ≈ 3.75 SAR** (or 1 SAR ≈ 0.267 USD).

This peg has been in place since 1986 and provides stability for trade and investment.

### Interesting Facts:
– The Riyal is widely accepted in Gulf Cooperation Council (GCC) countries due to economic ties.
– Newer banknotes feature images of King Salman bin Abdulaziz Al Saud and landmarks like the King Abdullah Financial District.
– Saudi Arabia is moving toward a cashless society, but physical Riyals remain in widespread use.

If you need to exchange Riyals, check with banks or authorized exchange services for the most current rates and any applicable fees.

The **UAE Dirham** (sign: د.إ; code: **AED**) is the official currency of the **United Arab Emirates**. Here are some key details:

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### **Quick Facts:**
– **Symbol:** د.إ (Arabic) or sometimes written as **DH** or **Dhs**.
– **ISO Code:** **AED** (Arab Emirates Dirham).
– **Subunit:** **Fils** (1 Dirham = 100 Fils).
– **Coins:** 1, 5, 10, 25, 50 fils, and 1 dirham.
– **Banknotes:** 5, 10, 20, 50, 100, 200, 500, 1000 dirhams.

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### **Exchange Rate Peg:**
– The AED is **pegged to the US Dollar** at a fixed rate:
**1 USD = 3.6725 AED** (since 1997).
– This peg provides stability and is managed by the UAE Central Bank.

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### **Usage:**
– Used in all **7 Emirates**: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, Ras Al-Khaimah, and Fujairah.
– Widely accepted; major foreign currencies (USD, EUR, GBP) are also often accepted in tourist areas, but dirhams are preferred for daily transactions.

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### **Interesting Notes:**
– The dirham was introduced in **1973**, replacing the Qatar and Dubai Riyal.
– Banknotes feature Arabic text on one side and English on the other, with images highlighting UAE heritage, landmarks, and leaders.
– Counterfeiting is rare due to advanced security features.

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### **For Visitors/Travelers:**
– **Currency Exchange:** Available at airports, banks, and exchange offices (better rates outside airports).
– **ATMs:** Widely available; credit/debit cards are accepted in most establishments.
– **Tipping:** Not mandatory, but rounding up or leaving 5–10% is appreciated in restaurants.

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If you need **current exchange rates**, **where to exchange money**, or details about specific banknotes, feel free to ask!

The **Tunisian Dinar (TND)** is the official currency of Tunisia, a country in North Africa. Here are some key details:

### **Quick Facts:**
– **Currency code:** TND (ISO 4217)
– **Symbol:** د.ت (Arabic) or DT (Latin script)
– **Subunit:** 1 dinar = 1,000 millimes
– **Issuing authority:** Central Bank of Tunisia (بنك تونس المركزي)

### **Banknotes and Coins:**
– **Banknotes:** Commonly in denominations of 5, 10, 20, and 50 dinars.
– **Coins:** Include 5, 10, 20, 50, 100, and 200 millimes, as well as ½, 1, 2, and 5 dinar coins.

### **Unique Features:**
– The dinar is a **closed currency**, meaning it cannot be legally taken out of Tunisia or exchanged outside the country. Exchanges must be done within Tunisia.
– It is pegged to a **basket of currencies**, primarily the euro, U.S. dollar, and Japanese yen, rather than a single currency.

### **Historical Context:**
– Introduced in 1960, replacing the Tunisian franc at a rate of **1 dinar = 1,000 francs**.
– The name “dinar” derives from the Roman *denarius*, a silver coin used in ancient Rome.

### **Usage Tips for Travelers:**
1. Exchange money **only at authorized institutions** (banks, official exchange offices, hotels) in Tunisia.
2. Keep exchange receipts, as you may need them to reconvert unused dinars when leaving.
3. Credit/debit cards are widely accepted in cities, but cash is essential in rural areas.

### **Exchange Rate (Approximate):**
As of late 2023, **1 TND ≈ 0.32 USD** or **0.30 EUR** (rates fluctuate).

Would you like more specific information, such as current exchange rates or economic context?

The **Turkish Lira** (currency code: **TRY**, symbol: **₺**) is the official currency of Turkey and the Turkish Republic of Northern Cyprus (recognized only by Turkey).

### Key Points:
1. **History**
– The lira was introduced in 1844 during the Ottoman Empire.
– It underwent significant revaluation in 2005, when the **”New Turkish Lira”** (YTL) was introduced, removing six zeros due to hyperinflation. In 2009, it reverted to being called the “Turkish Lira” (TRY).

2. **Current Status**
– The lira has faced persistent **high inflation and depreciation** in recent years, largely due to political influences on monetary policy, unorthodox interest rate decisions, and economic imbalances.
– As of late 2023–2024, inflation remains very high (officially around 65–70%, though independent estimates are often higher).

3. **Exchange Rate**
– The lira is a **freely floating currency**, but the Central Bank of the Republic of Turkey (CBRT) frequently intervenes in the forex market to manage volatility.
– Example: In early 2023, 1 USD ≈ 18–19 TRY; by early 2024, 1 USD ≈ 30–32 TRY, showing ongoing depreciation.

4. **Banknotes and Coins**
– Banknotes feature Mustafa Kemal Atatürk (founder of modern Turkey) on the front and notable Turkish figures, cultural, or historical themes on the back.
– Denominations: Coins (1, 5, 10, 25, 50 kuruş and 1 lira); Banknotes (5, 10, 20, 50, 100, 200, 500, 1000 lira — higher denominations introduced due to inflation).

5. **Economic Context**
– Turkey has adopted a **liraization strategy** to encourage use of the local currency over foreign currencies (like USD/EUR) in domestic savings and transactions.
– High inflation has eroded purchasing power, leading many Turks to hold foreign currency or assets like gold and real estate as stores of value.

6. **International Use**
– The lira is not a major reserve currency and has limited use outside Turkey. Exchange outside the country can be difficult, and its value is highly sensitive to domestic policy and global risk sentiment.

If you need **current exchange rates** or more specific economic data, let me know!

The **Chinese Yuan** (CNY), also known as the **Renminbi** (RMB), is the official currency of the People’s Republic of China. Here are some key points:

### **Names & Symbols**
– **Renminbi (RMB)**: Means “people’s currency” — the official name of China’s currency.
– **Yuan (¥)**: The primary unit of RMB (like “dollar” or “euro”).
– **Symbols**: ¥ (same as Japanese yen, but context distinguishes them) or CNY (ISO code).

### **Subunits**
– 1 yuan = 10 **jiao** (角) or **mao** (colloquial)
– 1 jiao = 10 **fen** (分)
– Fen are rarely used today due to low value.

### **Issuance & Regulation**
– Issued by the **People’s Bank of China** (PBOC).
– Exchange rate is managed under a **managed float system**, influenced by market forces with PBOC oversight.

### **Internationalization**
– Part of the IMF’s **Special Drawing Rights (SDR)** basket since 2016.
– Increasingly used in global trade and reserves, though not fully convertible for capital accounts.

### **Digital Currency**
– China is a pioneer in **central bank digital currency (CBDC)** with the **Digital Yuan (e-CNY)**, currently in pilot use.

### **Exchange Rate Policy**
– Often a topic in international trade discussions, with some countries expressing concerns about potential undervaluation.

If you have more specific questions (e.g., exchange rates, using RMB in China, digital yuan), feel free to ask!