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By the end of the 20th century, the United States dollar was considered the world's most dominant reserve currency. The world's need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year.
In most parts of the world, the order is: EUR â GBP â AUD â NZD â USD â others. Accordingly, a conversion from EUR to AUD, EUR is the fixed currency, AUD is the variable currency and the exchange rate indicates how many Australian dollars would be paid or received for 1 Euro. currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The quotation EUR/USD 1.11 means that 1 Euro is able to buy 1.11 US dollar.