The US Dollar is the currency of the United States of America (USA). USD or US Dollar is the most popular currency in the world because of the trade agreements that the US has with other currencies. US Dollar is the business currency of the world and hence, the most standard and widely used currency in the world. Because it is the most converted currency in the world, it is used as a benchmark in the foreign currency exchange market. Several countries use it as their official currency and in many other countries, it is the de facto currency. It is divided into 100 cents and is printed by Federal Reserve Bank.

US DOLLAR CURRENCY FACTS

HISTORY OF US DOLLAR

It was in 1775, 240 years since the continental congress of the United States authorized the issuance of continental currency. 16 years later, on April 2, 1792, the United States Congress created the country's standard unit of money - The United States dollar which colloquially became American dollar. It might interest you to know that the word "dollar"- which is so popular had already been in common usage since the early colonial period. The eight-real coin (Spanish dollar) - the silver coin with 38 mm diameter minted in Spanish empire in 1598 was used by the Spanish throughout New Spain.

US DOLLAR-WORLDS PRIMARY RESERVE CURRENCY

The USD can be paired with all other major currencies of the world and is used mostly in international transactions. That is the reason for its popularity and widespread use. Very few currencies can be traded on a regular basis in India. If you are unable to find the currency of the country you plan to travel, exchanging your INR to USD makes perfect sense. Since it is the worlds primary reserve currency, you can exchange your US Dollars for the local currency of the country you are in.

CONVERT DOLLAR TO RUPEE

The most popular exchange for Rupee is with the American Dollar. There are around 4 million NRIs living in America and almost every major American corporation has an office in India. This means a lot of exchange of not just manpower but money as well. That is the reason for the popularity of USD to INR exchange There are plenty of places where you may not be able to find Indian Rupees and most other currencies would most probably not be accepted for exchange. Because of its popularity, it is cheaper to carry US Dollars even if the local currency of the country you're travelling to, is available. This is because currency rates, especially of products such as cash currency and traveller's cheques are priced based on a demand-supply relationship.

BUY USD in INR/ SELL USD in INR

As explained above about the popularity of USD to INR exchange rate, there is always a sufficient supply of US Dollars in India and other countries and therefore, USD is always available at varying rates. When you want to Buy  or Sell USD in India, you will notice that different vendor provides different rates which have a long spread. This is because of the availability and the demand of US Currency. There are always USD buyers in India for both sides, ones who are looking to buy US dollar or looking to sell US dollar. This creates a tussle among money exchangers and Banks to earn huge margins on USD to INR exchange or INR to USD exchange. But these are not the best rates. The best rates for USD to INR are with BookMyForex.com. Our tie-ups with more than 5000 banks and money exchangers make it possible for us to give you the best rates possible.

STOP PAYING FOR FOREIGN EXCHANGE

With BookMyForex you don't have to pay any hidden fees or charges to convert Dollar to Rupee or vice versa. Buy Dollars or Sell dollars or any other foreign currency back into Indian rupees at best rates.