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  • As per RBI norms, the GST is applicable as per travellers.
  • This amount is calculated considering one traveller. You can further add/edit travellers in preconfirmation page which can impact the total amount.
  • You may block foreign currency by paying 2% of total transaction value. This blocked rate will be valid for 2 working days.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above without any threshold limit in a financial year under the Liberalised Remittance Scheme of the Reserve Bank of India.The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C(1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C (1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
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US Dollar (USD) - Currency of United States

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Buy, Sell or Transfer US Dollar (USD) in India at the best exchange rates

About US Dollar (USD)

The official currency of the United States since 1792, the US Dollar is the most traded currency in the world. One US Dollar is made up of 100 cents and bears the ‘$’ or US$ symbol. Apart from the United States of America, the US Currency – US Dollar is used as a legal tender in many countries together with the country’s official currency.

Along with the Euro, the US Dollar amounts to approximately 90% of globally allocated reserves, of which the US dollar alone covers nearly 60% share. Did you know that the US Dollar is a part of 85% forex transactions worldwide and it has an index of its own called the USDX?

Some facts that you ought to know about the US currency:

    1. The short name for the US Dollar is USD.
    2. Just like us, foreign currencies too have nicknames. The nicknames for USD include Benjamins, bones, bread, buck, buckos, Dinero, Jeffersons, scratch, and smacker.
    3. The most frequently used coins are 1¢, 5¢, 10¢, 25¢ and rarely used coins are 50¢ and $1.
    4. The most commonly used banknotes include USD1, USD5, USD10, USD20, USD50, and USD100 and the USD2 is the only banknote that is least used.

History of the US Dollar

In 1690, the Massachusetts Bay Colony issued colonial notes as a means to fund military operations, marking the earliest documented use of paper currency in the United States. Nearly a century later, in 1776, the first $2 bill was introduced, a mere nine days before the Declaration of Independence. It took until 1785 for the dollar sign to be officially adopted by the U.S., with the symbol of the Spanish American peso serving as a reference. Later in 1792, The United States Mint released the first dollar coins, which were identical in size and composition to the Spanish dollar.

In the early 19th century, the Spanish dollar, Mexican peso, and U.S. coins circulated simultaneously in the United States. However, Spanish dollars and Mexican pesos were no longer recognised as legal currency in the United States following the Coinage Act of 1857.

In order to finance the Civil War, demand notes known as "greenbacks" were first printed in 1861. United States Notes, which are today considered legal money, were first issued in 1862. In 1869, a standardised procedure for printing these notes was created.

Due to the Bretton Woods Agreement of 1944, the U.S. dollar became the reserve currency of the world and was funded by the largest gold reserves. Rather than building up gold reserves, other nations started accumulating U.S. dollars and started purchasing U.S. Treasury securities as a safe place to store their dollars.

Deficit spending of the United States to fund the Vietnam War and Great Society programs, coupled with the high demand for Treasury securities, resulted in an oversupply of paper money in the market. This resulted in concerns about the dollar's stability, causing countries to convert their dollar reserves into gold.

President Richard Nixon decided to sever the link between the dollar and gold due to the rising demand for gold, which established the floating exchange rates we have today. Despite stagflation periods marked by high unemployment and inflation, the U.S. dollar has continued to be the world's reserve currency.

The US dollar is one of the most powerful currencies in the world today, and it is used as the official currency in many countries outside the United States.

Factors affecting US Dollar Currency

The U.S. dollar is one of the most influential currencies in the world and plays a vital role in global trade and finance. As the world's reserve currency, the strength or weakness of the dollar can have significant impacts on international markets, affecting everything from commodity prices to the cost of borrowing money. Let’s explore some of the major factors that affect the value of the US dollar:

1. Supply and demand

The law of supply and demand is a fundamental principle of economics that also applies to the value of the US dollar. The value of the US dollar depends on the amount of money in circulation and the level of demand for it. The US dollar is in high demand since it is the most extensively utilised reserve currency worldwide. As a result, the US government is able to sell more Treasury notes in comparison to other countries, increasing the supply without having to charge high-interest rates.

2. Strength of the economy

The strength of the economy directly impacts the robustness of the US dollar. When the economy is thriving, the value of the dollar tends to rise. This is because investors have more confidence in the US economy, making it a more attractive investment opportunity. Additionally, the dollar is often seen as a safe haven during global crises, further boosting its value.

3. Interest rates

A key element influencing any global currency is interest rates. The main element influencing the US dollar's value is the interest rate paid on US Treasuries. The lower the interest rate, the less compelling the security and hence the lower the demand. This notion holds true for the majority of currencies, but since the US dollar is viewed as a safe haven, investment is attracted even at low-interest rates. This enables the country to amass colossal debt, which it can readily finance.

4. Debt to GDP ratio

Another element that influences the value of the US dollar is the link between a country's GDP and its governmental obligations. The US dollar falls in value the more debt there is in relation to GDP. This was especially important prior to 2008 when the dollar dropped as debt grew. The fact that the dollar is currently the most widely used currency globally and serves as a safe haven today helps to lessen the impact of this.

Quick Facts About US Dollar (USD)

Currency Name United States Dollar
Short Name USD
Nicknames Benjamins, Bones, Bread, Buck, Buckos, Cash, Dead Presidents, Dinero, Jeffersons, Scratch, Smacker
Symbol (s) $ And US$
Unit 1/100, Cent
Frequently Used Coins 1¢, 5¢, 10¢, 25¢
Rarely Used Coins 50¢, $1
Frequently Used Bank Notes USD1, USD5, USD10, USD20, USD50, USD100
Rarely Used Bank Notes USD2
Central Bank, Name & Website Federal Reserve System | www.federalreserve.gov
Nations that unofficially use US Dollar as a Part of their Legal Tender Afghanistan, Bahamas, Cambodia, East Timor, Lebanon, Maldives, Vietnam, Marshall Islands, Zimbabwe

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The US Dollar Currency

Courtesy its worldwide acceptance, there are some countries, which use the USD as an official currency for transactions diverging from their local currency. Furthermore, there are some US dollar countries that use the currency as an informal substitute for carrying out transactions simultaneously maintaining their official local currency.
Another reason that makes the USD such a prime factor for many countries across the globe is that they consider its value as a benchmark to peg their own currency value.

Here’s a list of nations that use the US Dollar as a part of their legal tender:
  • Afghanistan
  • Bahamas
  • Cambodia
  • East Timor
  • Lebanon
  • Maldives
  • Zimbabwe


How to buy forex online?
To find the latest US Dollar rate or other exchange rates, simply visit the Thomas Cook website now. Thomas Cook offers the best forex rates in the country along with customized tour packages.

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Frequently Asked Questions

Would forex card be convenient to use in the US?
Forex card among other modes is a very secure and safe mode to travel with to take care of your transactions while you are travelling in the US. In case you are interested to purchase a forex card for your trip to US, please do not hesitate to check out the online feature on our website to do so or you may even contact one of our experts for a detailed advice.
How much money can I carry in and out USA?
You can carry up to USD 1,00,000, or equivalent foreign currency, in and out USA. However, in case the amount you are carrying exceeds the given limit then you will be required to declare the same.
I want to sell USD. Can I do that online?
Yes, you can sell USD online by just filling up a simple form, and we will assist you throughout the process.
How can I book USD via Thomas Cook? Can I book it online?
Yes, you can certainly book forex online by filling up a simple form on our website. It is a very convenient process and by the end of the transaction, you will receive it at your doorstep.
Which is the highest denomination as far as US Dollar is concerned?
The largest denomination that was ever issued was the USD 10,000 note which was later discontinued as a result of the lack of use.

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