Usd Converter
Convert Usd to Gmd and more • 166 conversions
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Unit Explanations
United States Dollar$
Source UnitThe United States Dollar (USD) is the official currency of the United States, recognized as a legal tender in various territories and widely accepted internationally. It is subdivided into 100 smaller units called cents. The dollar is denoted by the symbol '$' and is one of the most traded currencies globally, often used as a benchmark for other currencies. Its value is influenced by various factors including economic indicators, interest rates, and geopolitical stability. As a fiat currency, the USD is not backed by a physical commodity but rather the trust in the U.S. government and economy, making it a crucial component of the global financial system, utilized in both domestic and international transactions.
Current Use
The U.S. dollar is not only the official currency of the United States but also plays a dominant role in the global economy. As the primary reserve currency held by many countries, it is used in international transactions, trade agreements, and as a benchmark for other currencies. The dollar is widely accepted for transactions in various sectors such as finance, trade, and tourism, making it a preferred currency for global commerce. It is commonly used in international markets for commodities such as oil and gold, and many countries peg their local currencies to the dollar to stabilize their economies. The dollar is also utilized in remittances, with millions of people sending money across borders in USD.
Fun Fact
The U.S. dollar is the most widely used currency for global trade.
Ghanaian CediGMD
Target UnitThe Ghanaian Cedi (GMD) is the official currency of Ghana, introduced on July 3, 2007, in a bid to stabilize the economy and curb inflation. It replaced the old cedi at a conversion rate of 1 new cedi to 10,000 old cedis. The currency is subdivided into 100Gp (Ghanaian pesewas), and it is issued by the Bank of Ghana. The Cedi is denoted by the symbol '₵', and its currency code is GMD. The GMD is used in all transactions within Ghana, playing a crucial role in the country's economic activities, including trade, investments, and financial services. It is subject to fluctuations in exchange rates influenced by various economic factors such as inflation, interest rates, and political stability.
Current Use
The Ghanaian Cedi is the primary medium of exchange in Ghana and is widely accepted for all transactions including retail purchases, service payments, and international trade. It is used by both the public and private sectors, with its value determined by market forces in the foreign exchange market. The GMD is also used in various financial instruments, such as loans and deposits, facilitating economic activities within the country. It plays a significant role in remittances, as many Ghanaians living abroad send money back home in Cedis. The GMD is affected by inflationary pressures and is monitored by the Bank of Ghana, which implements monetary policies to maintain its stability. The currency is recognized in various economic reports and is essential for budgeting and financial planning in Ghana.
Fun Fact
The Ghanaian Cedi was introduced to combat hyperinflation experienced in the 1990s.
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📐Conversion Formula
= × 1.00000How to Convert
To convert to , multiply the value by 1.00000. This conversion factor represents the ratio between these two units.
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💡 Pro Tip: For the reverse conversion ( → ), divide by the conversion factor instead of multiplying.
United States Dollar
currency • Non-SI
Definition
The United States Dollar (USD) is the official currency of the United States, recognized as a legal tender in various territories and widely accepted internationally. It is subdivided into 100 smaller units called cents. The dollar is denoted by the symbol '$' and is one of the most traded currencies globally, often used as a benchmark for other currencies. Its value is influenced by various factors including economic indicators, interest rates, and geopolitical stability. As a fiat currency, the USD is not backed by a physical commodity but rather the trust in the U.S. government and economy, making it a crucial component of the global financial system, utilized in both domestic and international transactions.
History & Origin
The United States Dollar has its origins in the Spanish dollar, which was widely used in the Americas during the colonial period. The first official dollar was issued by the Continental Congress in 1775 during the American Revolutionary War. The Coinage Act of 1792 established the U.S. dollar as the country's standard unit of money, allowing for the production of coins in various denominations. The dollar was initially defined in terms of specific weights of silver and gold, reflecting the bimetallic standard prevalent at the time, leading to the establishment of the U.S. Mint for the purpose of producing coinage.
Etymology: The term 'dollar' comes from the German word 'Thaler', which referred to a silver coin that was minted in the 16th century.
Current Use
The U.S. dollar is not only the official currency of the United States but also plays a dominant role in the global economy. As the primary reserve currency held by many countries, it is used in international transactions, trade agreements, and as a benchmark for other currencies. The dollar is widely accepted for transactions in various sectors such as finance, trade, and tourism, making it a preferred currency for global commerce. It is commonly used in international markets for commodities such as oil and gold, and many countries peg their local currencies to the dollar to stabilize their economies. The dollar is also utilized in remittances, with millions of people sending money across borders in USD.
💡 Fun Facts
- •The U.S. dollar is the most widely used currency for global trade.
- •More than 60% of all foreign exchange reserves are held in USD.
- •The design of the dollar bill has not changed significantly since 1929.
📏 Real-World Examples
🔗 Related Units
Ghanaian Cedi
currency • Non-SI
Definition
The Ghanaian Cedi (GMD) is the official currency of Ghana, introduced on July 3, 2007, in a bid to stabilize the economy and curb inflation. It replaced the old cedi at a conversion rate of 1 new cedi to 10,000 old cedis. The currency is subdivided into 100Gp (Ghanaian pesewas), and it is issued by the Bank of Ghana. The Cedi is denoted by the symbol '₵', and its currency code is GMD. The GMD is used in all transactions within Ghana, playing a crucial role in the country's economic activities, including trade, investments, and financial services. It is subject to fluctuations in exchange rates influenced by various economic factors such as inflation, interest rates, and political stability.
History & Origin
The Ghanaian Cedi's origin traces back to the colonial era, with various currencies being used during British rule, including the British West African pound. Upon gaining independence in 1957, Ghana adopted its first cedi, which was pegged to the British pound. However, due to economic instability and inflation, the old cedi was declared obsolete in 2007, leading to the introduction of the new Ghanaian Cedi.
Etymology: The term 'Cedi' is derived from the Akan word 'sidi', which means 'cowrie shell', a traditional form of currency used in trade.
Current Use
The Ghanaian Cedi is the primary medium of exchange in Ghana and is widely accepted for all transactions including retail purchases, service payments, and international trade. It is used by both the public and private sectors, with its value determined by market forces in the foreign exchange market. The GMD is also used in various financial instruments, such as loans and deposits, facilitating economic activities within the country. It plays a significant role in remittances, as many Ghanaians living abroad send money back home in Cedis. The GMD is affected by inflationary pressures and is monitored by the Bank of Ghana, which implements monetary policies to maintain its stability. The currency is recognized in various economic reports and is essential for budgeting and financial planning in Ghana.
💡 Fun Facts
- •The Ghanaian Cedi was introduced to combat hyperinflation experienced in the 1990s.
- •The symbol '₵' was specifically designed to reflect Ghana's cultural heritage.
- •The GMD is one of the few currencies in Africa that has undergone a major overhaul in recent years.
📏 Real-World Examples
🔗 Related Units
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Frequently Asked Questions
How do I convert to ?▼
To convert to , multiply your value by 1. For example, 10 equals 10 .
What is the formula for to conversion?▼
The formula is: = × 1. This conversion factor is based on international standards.
Is this to converter accurate?▼
Yes! MetricConv uses internationally standardized conversion factors from organizations like NIST and ISO. Our calculations support up to 15 decimal places of precision, making it suitable for scientific, engineering, and everyday calculations.
Can I convert back to ?▼
Absolutely! You can use the swap button (⇄) in the converter above to reverse the conversion direction, or visit our to converter.