9 November 2020: Foreign exchange rates between U.S. and select countries in East Africa, West Africa, the Caribbean, and Asia

Photo by Karolina Grabowska on Pexels.com

As of 11:14 pm EST, 9 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76934 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.29964 CAD

CAD/USD=0.76934   USD/CAD=1.29964

CNH/USD= 0.15178   USD/CNH=6.58714

EUR/USD= 1.18614    USD/EUR=0.84297

DKK/USD =0.15921     USD/DKK=6.27914

NGN/USD= 0.00261    USD/NGN=381.557

JPY/USD=0.00958       USD/JPY=104.36

INR/USD=0.01352       USD/INR=73.8335

JMD/USD=0.00674      USD/JMD=145.335

GYD/USD=0.00478       USD/GYD= 209.215

GHS/USD=0.17142       USD/GHS= 5.82570

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00910       USD/KES= 107.944

Source: OANDA

Major political/legal event in the United States

Biden launches transition website

Presumptive president-elect Joseph R. Biden has launched a transition website that describes his initial initiatives he plans to address upon taking office in January 2021.  Mr Biden appears prepared to engage in a level of spending to address faults and inequities in the American economic infrastructure that were in place prior to the Covid pandemic.  Spending initiatives include:

  • Providing state, local, and tribal governments with financial assistance;
  • Extending Covid crisis unemployment insurance to people out of work;
  • Provide a financial package for small businesses and entrepreneurs;
  • Creation of a public health corps that puts the unemployed to work fighting the pandemic.

No discussion has been provided by the transition team yet on the costs of these packages and the impact they may have on money supply expansion/contraction, trade, or foreign exchange rates.

Source: BuildBackBetter.com

Treasury announces tax deduction for pass-through entities

Today, the U.S. Department of the Treasury announced rule changes that clarify that State and local income taxes imposed on and paid by a pass-through entity are allowed as a deduction by the pass-through entity in computing its non-separately stated taxable income or loss for the taxable year of payment. 

Source: Treasury.gov

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