Asian Currencies Exchange for USD

Table of Contents

Australia

Bangladesh

East Timor

Korea (South and North)

Malaysia

Myanmar (Burma)

New Zealand

Pakistan

Papua New Guinea

Philippines

Singapore

Thailand

Vietnam

 

USD to AU dollar

Click here for USD to AUD History over past 60 years.

Apr 2020 = 1.54 AU dollar to the US dollar

Jan 2020 = 1.44 AU dollar to the US dollar

 

USD to Bangladeshi Taka


Jan 2020 = 84 Taka to the dollar

 

East Timor


After East Timor separated from Indonesia in 2000, the country adopted the US Dollar
with centavo coins in 2003 minted in Lisbon Portugal.

 

USD to South Korea Won

Jan 2020 = 1,200 Won to the dollar

USD to North Korea Won

Jan 2020 = 900 Won to the dollar


South Korea

1910 1 won = 1 Japanese yen
1945 1 Japanese yen = 1 won
 and 15 won to dollar
1947 50 won to dollar
1948 450 won to dollar
1950 2500 won to dollar
1951 6000 won to dollar
1953 6000 won to dollar
 and 60 hwan to dollar
1962 1250 hwan to dollar
 and 125 won to dollar
1964 214 won to dollar
1970 310 won to dollar 
1974 404 won to dollar
1980 605 won to dollar
1984 800 won to dollar
Sep97 900 won to dollar
1998 1300 won to dollar
2019 1200 won to dollar


North Korea

The won issued in 1945 was later revalued in 1959 at a rate of one new won to 100 old won.

2000 2 won to dollar (official exchange rate)
2006 170 won to dollar

Then the won was revalued in November 2009 for the first time in 50 years. North Koreans were given seven days to exchange a maximum of W100,000 (worth approximately US$40 on the black market) in W1,000 notes for W10 notes, but (apparently) after protests by some of the populace, the limit was raised to W150,000 in cash and W300,000 in bank savings.

2018 900 won to the dollar

 

USD to Myanmar (Burma) Kyat


Apr 2020 = 1392 Kyat to the dollar

Jan 2020 = 1464 Kyat to the dollar

In May 2012, the kyat was floated and fell to 850 to the dollar.
In Jan 1960 = 4.76 to the dollar, fixed by the Government.

 

USD to NZ dollar

Apr 2020 = 1.63 NZ dollar to the US dollar

Jan 2020 = 1.50 NZ dollar to the US dollar NZ Banknote History

Between 1840 and 1934, private trading banks issued notes. Like Australia, the NZ £ was at par with the British £. The first bank notes issued in New Zealand were in March 1840 by the Union Bank of Australia at Britannia, now Wellington, then in September 1840 the New Zealand Banking Company followed at Kororareka, now Russell.

The discovery of gold in 1861 encouraged competing banks into New Zealand leading to a variety of note issue. By 1924, public demand for convenience in usage led to the six remaining issuing banks agreeing to a "Uniform" standard size and colour for each denomination.

Historically, the Australian banks controlled the New Zealand exchanges with London.
In December 1931, the Australian government set a rate of £1 Australian = 16 shillings sterling, and by 1933, the New Zealand pound had also fallen to a value of only 16 shillings sterling.

When the Reserve Bank of New Zealand was established on 1 August 1934 by the Reserve Bank of New Zealand Act 1933, it became the sole issuer of notes. This government agency introduced notes for 10s, 1 pound, 5 pounds and 50 pounds. In 1940, 10 pound notes were added.

Similar to what happened in Australia and the US, under the 1933 Reserve Bank Act all privately held gold was now confiscated and paid for using these RBNZ banknotes, somewhat like deposit slips.

In 1948, the RBNZ pound was restored to parity with pound sterling, causing the Australian £ to be worth only 16 NZ shillings. On 10 July 1967, New Zealand decimalised its currency, replacing the pound with the dollar at a rate of $2 = 1 pound (or $1 = 10s). In November 1967 the pound sterling devalued against the US dollar, and New Zealand used this as an opportunity to re-align its dollar to parity with the Australian dollar.

Currently 1 New Zealand Dollar equals 0.97 Australian Dollar.

New Zealand latest banknotes are printed in Canada. Previous series were by Note Printing Australia 

NZ Coins

New Zealand's $1 and $2 coins are minted by the Royal Mint in the United Kingdom. The 10 cent, 20 cent and 50 cent coins are minted by the Royal Canadian Mint. Other mints the Bank has used over time include: the Royal Australian Mint, Norwegian Mint and the South African Mint Company.


Initially from 1840, British coins and after 1916 Australian minted coins circulated in New Zealand. The devaluation of the New Zealand pound relative to sterling in the 1930s led to the issue of distinct New Zealand coins in 1933, in denominations of 3d, 6d, 1s, 2s (the florin), and 2s 6d (the half-crown), minted in 50% silver until 1946 and in cupro-nickel from 1947. In 1940, bronze ½d and 1d coins were introduced. All these denominations were the same size and weight as their equivalents in the Australian and UK coinage.

In all cases, the currency's value to collectors is now far higher than its face value, due to its rarity. A prime example is a first issue Union Bank 1 pound from the 1840s returned to New Zealand in 1934, for redemption at face value, by its owner in the United States. Today a similar note would be valued in excess of 10,000 pounds sterling. 50 pound notes of the Reserve Bank are also extremely rare and fetch a high price from collectors. The note signed by Chief Cashier T. P. Hannah in uncirculated condition could fetch as high as NZ$25,000 according to the premier value listing for New Zealand notes and coins (some other lesser valued notes signed by Hannah exist).

 

USD to Pakistan Rupee


Apr 2020 = 165 Rupee to the dollar

Jan 2020 = 155 Rupee to the dollar

 

USD to PNG kina


Jan 2020 = 3.4 PNG Kina to the dollar

New Guinea Mark Background

In 1884 the German New Guinea Company issued coins.
Bronze Pfennig 1,2,10
Silver Mark ½,1,2,5
Gold Mark 10,20

Papua and New Guinea Territories

In 1910 the Bank of NSW opened the first banking branch in Port Moresby issuing Australian currency.
Followed by the Commonwealth Bank in 1916.

In 1914, during World War I, German New Guinea was quickly occupied by Australia. That year, the Australian authorities issued Treasury notes denominated in marks. In 1915, the Mark was replaced by the New Guinea pound, equal to the Australian pound (at 20 marks to the pound). Australian currency also circulated.
Between 1929-1945, Territory of New Guinea issued holed coins (halfpennies, threepences, sixpences, shillings).

After 1945, Papua New Guinea became a single Territory, with Australian currency.

In 1957 NAB set up Bank South Pacific in Port Moresby. 

In 1973 Central Bank of Papua New Guinea was created. First notes issued on 19 May 1975 were called Kina, equivalent to AU dollars and circulated along with the Australian dollar until 31 Dec 1975. The next day, the dollar ceased to be legal tender.

Kina (Keena) Notes are printed by Note Printing Australia in Melbourne.
Toea (Toe-a) Coins minted in Canada.

 

USD to Philippines peso


Jan 2020 = 51 Philippine pesos to the dollar
In Jan 1999 = 40 to the dollar
In Jan 1988 = 20 to the dollar
In Jan 1983 = 10 to the dollar
In Jan 1962 = 4 to the dollar
In Jan 1960 = 2 to the dollar.

During the years of Spanish occupation, all trade was in Spanish Pesos or Dollars of 27grams silver 90% fine, or Gold "Onzas" (ounces) of identical weight that were valued at 16 Silver Pesos. After the United States took control of the Philippines in the US Spanish War of 1898, the gold and silver content of the coins was halved, starting in 1904, enabling their goods to be traded much more cheaply.

 

USD to Malay Ringgit


Apr 2020 = 4.35 Malay Ringgit to the dollar

Jan 2020 = 4.08 Malay Ringgit to the dollar

USD to Singapore dollar


Apr 2020 = 1.43 Singapore dollar to the US dollar

Jan 2020 = 1.35 Singapore dollar to the US dollar

Singapore and Straits Settlements Currency History

1826 Under the East India Company rule in Calcutta in Bengal, the Indian Rupee (11½grams fine silver) was made the sole official currency in Singapore for internal trade purposes. External trade however was in Spanish Dollars (27grams silver 90% fine) using coins issued from Spain and particularly Mexico.

1845 Copper cents (100 to the Spanish dollar) first issued from Calcutta.

1867 The Spanish dollar became Singapore's official currency when it became a Crown colony under London, who directly took over its administration.

1871 Silver coins were first issued in the name of the Straits Settlements for 5, 10 and 20 cents, followed by copper 1/4, 1/2, and 1 cent the next year and silver 50 cents in 1886.

1899 The Straits Dollar replaced the Spanish Dollar, under a new Board of Commissioners of Currency in London, and private banks were prevented from issuing their own notes. Silver dollars were first minted in 1903 and its value was pegged at two shillings four pence sterling in 1906.

1939 Malayan Dollar (Ringgit in Malay) announced under a Board of Commissioners of Currency in Malaya, at par with the Straits Dollar. Banknotes were printed in London, but only the $10 banknote went into circulation in 1941. After Japan's invasion in 1942, to supply the authorities with money whenever they required it, the Japanese simply printed more and more of their own notes, called "banana notes". After 1945 and the surrender of Japan, the currency became entirely worthless, and to this day the Japanese government has refused to exchange these currencies. Some locals managed to escape poverty because they had hidden Straits dollars and Malayan dollars, the currencies in use before the Japanese invaded. Those with hidden stashes of the old dollars were able to use them the moment the British resumed control of Singapore and surrounding colonies, when the old dollars became valid again. This lasted until 1953.

In 1953 a new Board of Commissioners of Currency for British Malaya and British Borneo was appointed for the dollar (Ringgit) which lasted until 1967. The Board consisted of five members - The Financial Secretary of Singapore who was also the Chairman of the Board, The Minister of Finance for the Federation of Malaya, The Governor of Sarawak in North Borneo, The Governor of North Borneo (Sabah), The British Resident of Brunei, plus two further appointed by agreement of the participating governments.

On 12 June 1967, the currency union came to an end and Malaysia, Singapore and Brunei each began issuing their own currencies - the Malaysian ringgit, Singapore dollar and Brunei dollar. The currencies of the three countries were interchangeable at par value under the Interchangeability Agreement until 8 May 1973 when the Malaysian government decided to terminate it. Brunei and Singapore continue with the Agreement until the present day.

 

USD to Thailand Baht


Apr 2020 = 33 Thai Baht to the dollar.

Jan 2020 = 30 Thai Baht to the dollar.

Some further history

Before 1880, in fact for hundreds of years, it was 15 grams of sterling silver (13½ grams fine) which meant a fixed price of 2s 6d, or 1.4 Indian rupees. Then the silver price fell.
During the 1880s, it was valued at 2 shillings.
By 1902, it had fallen to 11 pennies.
In 1908, it rose to 1s 6d (or 13 to the pound).
In 1919, it rose to 1s 8d, then in 1923 to 1s 10d.
During WW2 it was pegged to the Japanese yen.
In 1956, after some upheaval, it was revalued at 20.8 to the US dollar.
In 1973 it fell to 20 to the dollar.
In 1984 it fell to 25 to the dollar.
In 1998 it fell to 56 to the dollar.
In 2019 it is valued at 30 to the dollar.

 

USD to Vietnam Dong


Apr 2020 23,600
Jan 2020 23,200
Jan 2018 23,000
Jan 2016 22,000
Jan 2013 21,000
Jan 2011 20,000
Jan 2010 18,000
Jan 2009 17,000
Jan 2007 16,000
Jan 2002 15,000
Jan 1999 14,000
Jan 1998 13,000
Jan 1997 12,000
Jan 1994 11,000
Jan 1992 11,500
Jan 1991 10,000
Jan 1990 6,400
Jan 1989 4,500 new dong
Jan 1988 640 new dong
Jan 1987 73 new dong
Jan 1986 200 old dong or 20 new dong

On September 14 1985 the new dong was issued, worth 10 of the old, as Vietnam prepared itself for a more market-oriented economy

Apr 1984 1.14 dong
Jan 1983 1.00 dong
May 1978 1.00 dong

Some further history, coming forward from the Vietnam Civil War after WW2 to May 1978

Before WW2, France ruled North and South Vietnam as one country, French Indochina. Its official currency, the silver piastre, was equivalent to the Hong Kong Trade Dollar, which before 1900 was equal to the Spanish Mexican Peso and the US Dollar. After WW2, its paper currency was valued at 12 piastres to the US dollar. North Vietnam Dong In 1946, the Viet Minh government - who later became the government of North Vietnam - introduced the "1946" dong at equal value with the French Indochinese piastre. In 1951, the "1951" dong was issued, equal to 100 of the "1946" dong. In 1958, the "1958" dong was issued, equal to 1000 of the "1951" dong. In South Vietnam, the French Indochinese piastre continued to circulate at 12 piastres to the US dollar. In 1949 it was revalued at 35 piastres to the US dollar. South Vietnam Dong In 1953, the new South Vietnam dong was issued, equal value with the piastre, at 35 to the US dollar. This official rate was maintained by South Vietnam until it was replaced by the southern Liberation dong in September 1975. During the years 1953 to 1975, it was propped up (somewhat) by Government controls and US aid. The black market rate showed it had a much lower perceived value. The following figures are from https://art-hanoi.com/library/rates/ South Vietnam's unofficial black market rate was closer to 55 dong to the US dollar in 1955, gradually rising to 780 dong to the US dollar in January 1975, then due to lack of market demand, rapidly rising to 2500 dong to the US dollar in August 1975. When the city of Saigon fell on September 22 1975, South Vietnam's currency became the "1975" southern Liberation dong, worth 500 of the old South Vietnam dong, officially valued at 1½ to the US dollar, but at 6½ to the US dollar on the black market. Vietnam was reunified on May 3 1978, and the southern Liberation dong followed suit by being merged at an 80% rate into the "1958" northern dong. So, one "1978" combination dong was equal to one "1958" northern dong and 0.8 of a "1975" southern Liberation dong in a Soviet style command economy of fixed prices, at level pegging with the US dollar.

 

** End of List

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