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Encyclopedia > International dollar

The international dollar is a hypothetical unit of currency that has the same purchasing power that the U.S. dollar has in the United States at a given point in time. It shows how much a local currency unit is worth within the country's borders. Conversions to international dollars are calculated using purchasing power parities (PPP). It is comparisons both between countries and over time. For example, comparing per capita gross domestic product (GDP) of various countries in international dollars, rather than based simply on exchange rates, provides a more valid measure to compare standards of living. The United States dollar is the official currency of the United States. ... In economics, purchasing power parity (PPP) is a method used to calculate an alternative exchange rate between the currencies of two countries. ... In economics, gross domestic product (GDP) is a measure of the value of economic production of a particular territory in financial capital terms during a specificied period. ...


Figures expressed in international dollars cannot be converted to another country's currency using current market exchange rates; instead they must be converted using the country's PPP exchange rate used in the study.


  Results from FactBites:
 
Finance & Development, June 2001 - Can the World Economy Afford U.S. Tax Cuts? The International Dollar Standard ... (3066 words)
After all, the dollar remains strong and the United States is unique in having a virtually unlimited line of credit, largely denominated in dollars, from the rest of the world.
To the present day, the dollar is still the vehicle currency in the interbank spot and forward exchange markets, the currency of invoice for trade in primary commodities and many industrial goods and services, and the main denomination for international capital flows.
Although the dollar's central monetary role is all well and good for promoting efficient international exchange, an incidental consequence is that the international borrowing of the United States is not subject to hard budget constraints.
The US Dollar Bear (3109 words)
In many ways the US dollar has become the central linchpin of the entire global economy, including both financial markets and international trade, so it is difficult if not impossible to overstate the importance of the dollar to the world financial system today.
While the US dollar spent all of the late 1990s, the bubble years in US equities, in a magnificent bull market, today the dollar languishes in a powerful primary bear market.
When a primary dollar bear is combined with a brutal equity Great Bear and a coming bond bear once interest rates inevitably respond to the Fed’s massive monetary inflation, for my money the best place to park long-term capital today is in physical gold and quality unhedged gold stocks.
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