On Friday, December 9, 2022 (09/12/2022), the US dollar (USD) exchange rate is PLN 4.42475. Since the beginning of the year, the dollar has appreciated strongly due to rising inflation rates around the world, economic turmoil, the actions of the US Federal Reserve and the crisis caused by the war in Ukraine. Thus, the USD/PLN currency pair has increased by about PLN 0.101 since January.
The US dollar is the official currency of the United States and the world’s reserve currency
Dollar exchange rate on Friday, December 9 2022time 05:33
One dollar against the zloty USD/PLN costs PLN 4.42475 One euro against the dollar (main currency pair) EUR/USD costs USD 1.05515.
Dollar exchange rate USDPLN 09.12.2022
Dollar exchange rate (USD). The history and world significance of the currency
One US dollar is divided into one hundred US cents. It is written using the symbol $ or the international abbreviation USD (United States dollar). It is in it that the prices of most goods on the world market are expressed, which means that the value of crude oil and other fossil raw materials, metals (precious and industrial) or even agricultural products is expressed in the US dollar, making it the settlement currency. The name of the dollar probably comes from the name of the Spanish dollar, which in the 16th century (long before the founding of the USA) was the most popular means of payment in the New World. Today, USD is the official currency of the most powerful economy in the world, i.e. the United States of America, as well as many other countries, such as: Puerto Rico, Micronesia, Ecuador, Palau, El Salvador, East Timor, Marshall Islands, Zimbabwe, and the Northern Mariana Islands and several smaller islands . For decades, the dollar has earned the status of good money, which, regardless of the circumstances, maintains or gains in value. Poles and residents of Central and Eastern Europe in particular know this, for whom, during the communist regime, payments in dollars were often the only way to receive unavailable, exclusive goods at that time. Even today, when going abroad, the dollar is an almost universally accepted currency that every merchant or bank accepts without hesitation. The dollar has been the world’s main reserve currency for decades and is one of the big four world currencies with the status of a safe haven, i.e. the type of asset to which global capital flees when risk aversion increases. According to the data of the International Monetary Fund, in the third quarter of 2021, the foreign reserves of all central banks denominated in dollars amounted to just over USD 7 trillion, i.e. about 60 percent. whole. The current valuation of the dollar is influenced by countless factors, but the most important ones include: the economic condition of the US (labour market data, inflation, economic growth, etc.), market sentiment (risk-off or risk-on), as well as the actions of the US Federal Reserve (FED).
The Federal Reserve System, commonly known as the Federal Reserve or “Fed” (short for Federal Reserve System), has power over the dollar and was established as early as 1913. The Federal Reserve acts as the central bank of the USA, and the most important decisions are taken by the Board of Governors, which meets 8 times a year to decide, among others, about the money supply. The most important body of the Fed, which has the greatest impact on the functioning of the US economy and financial markets, is the FOMC (Federal Open Market Committee). It is he who decides on interest rates (discount rate), creating the monetary policy of the state. Follow us on Google News. Search for what is important and stay up to date with the market! Follow us >>
