Economy > Exchange rates > A note: Countries Compared
- Home
- Country Info
- Stats
- Economy
- Exchange rates
- A note
| COUNTRY | DESCRIPTION |
|---|---|
| Brazil | from October 1994 through 14 January 1999, the official rate was determined by a managed float; since 15 January 1999, the official rate floats independently with respect to the US dollar |
| Bulgaria | on 5 July 1999, the lev was redenominated; the post-5 July 1999 lev is equal to 1,000 of the pre-5 July 1999 lev |
| Comoros | prior to January 1999, the official rate was pegged to the French franc at 75 Comoran francs per French franc; since 1 January 1999, the Comoran franc is pegged to the euro at a rate of 491.9677 Comoran francs per euro |
| Democratic Republic of the Congo | on 30 June 1998 the Congolese franc was introduced, replacing the new zaire |
| Ecuador | on 13 March 2000, the National Congress approved a new exchange system whereby the US dollar was adopted as the main legal tender in Ecuador for all purposes; on 20 March 2000, the Central Bank of Ecuador started to exchange sucres for US dollars at a fixed rate of 25,000 sucres per US dollar; since 30 April 2000, all transactions are denominated in US dollars |
| El Salvador | since January 2001 the US dollar has also become legal tender; the exchange rate has been fixed at 8.75 colones per US dollar |
| Ethiopia | since 24 October 2001 exchange rates are determined on a daily basis via interbank transactions regulated by the Central Bank |
| Greece | in January 2001, the drachma became a participating currency within the Eurosystem, and the euro market rate became applicable to all transactions |
| Guinea-Bissau | as of 1 May 1997, Guinea-Bissau adopted the XOF franc as the national currency; since 1 January 1999, the XOF franc is pegged to the euro at a rate of 655.957 XOF francs per euro |
| Jordan | since May 1989, the Jordanian dinar has been pegged to a group of currencies |
| Liberia | until December 1997, rates were based on a fixed relationship with the US dollar; beginning in January 1998, rates are market determined |
| Libya | Libya devalued its official rate for foreign trade on 1 January 2002 to 21.30 dinars per US dollar; the previous official rate was 0.63 dinar per US dollar (Dec 2001) |
| Mozambique | effective October 2000, the exchange rate is determined as the weighted average of buying and selling exchange rates of all transactions of commercial banks and stock exchanges with the public; meticais is the plural form of metical |
| Poland | zlotych is the plural form of zloty |
| Russia | the post-1 January 1998 ruble is equal to 1,000 of the pre-1 January 1998 rubles |
| Somalia | the Republic of Somaliland, a self-declared independent country not recognized by any foreign government, issues its own currency, the Somaliland shilling |
| Suriname | beginning in July 1994, the central bank midpoint exchange rate was unified and became market determined; during 1998, the exchange rate splintered into four distinct rates; in January 1999 the government floated the guilder, but subsequently fixed it when the black-market rate plunged; the government currently allows trading within a band of SRG 500 around the official rate |
| Tajikistan | the new unit of exchange was introduced on 30 October 2000, with one somoni equal to 1,000 of the old Tajikistani rubles |
| United States | financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 |
