US Dollar to Aruban Florin Exchange Rate
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How can I get the best exchange rate between US dollar and the Aruban florin?
To ensure you are getting the best exchange rate between the US dollar and the Aruban florin, you can compare different online money transfer services and banks to find the one that offers the rate closest to the mid-market rate.
Aruba has a low inflation rate and even experienced deflation in 2016. Due to these factors, there may be uncertainty regarding the real value of the florin and whether investing in it is a good idea or not. If investors really do become concerned about the state of the Aruban economy, it may put downward pressure on the florin and decrease its value.
If you are traveling to Aruba, it may be good to know that you can also get by with US dollars. Dollars are widely accepted in Aruba, and you can spend your US dollars in most shops, hotels, and restaurants. However, keep in mind that the exchange rate you will be offered at shops and restaurants will differ from the rate you will be offered in banks. In almost all cases, the banks will give you a better exchange rate.
US Dollar
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
| Currency: | US Dollar |
| Currency Symbol: | $ |
| Sub unit: | cents |
| Sub unit symbol: | c |
| Bank notes: | $1, $5, $10, $20, $50, $100 |
| Coins: | 1c, 5c, 10c, 25c, 50c |
Aruban Florin
The florin is the official currency of Aruba, located in the southern Caribbean Sea. Because 75% of Aruba’s GDP relies on tourism, acceptance of the US dollar is widespread.
| Currency: | Aruban Florin |
| Currency Symbol: | Afl. |
| Sub unit: | cent |
| Sub unit symbol: | c |
| Bank notes: | 10, 25, 50, 100, 500 |
| Coins: | 5c, 10c, 25c, 50c, 1c, 5 florin |
What affects exchange rates between the US dollar and the Aruban florin?
The Aruban florin is currently pegged to the US dollar at a rate of 1.79 florin to 1 US dollar. As long as the current peg policy does not change, this exchange rate will remain the same. However, if economic conditions in Aruba changes significantly, the central bank may be forced to revalue the peg. Factors that could lead to this include a rise in public debt, a slowing economy, or interest rate changes.
The public debt of Aruba is around 85% of the GDP, which is much higher than the normal rate for a small economy like Aruba’s. Due to this, the economy is vulnerable to external shocks. Aruba also faces several obstacles to economic growth, including a narrow economic base, significant interest payments and fixed exchange rate regime. To ensure stability, the Aruban government needs to tackle policies that can balance decreasing debt and boost real growth.
Aruba is a small country with an economy that is heavily dependent on tourism, which accounts for 30% of the island’s total income. In addition to this, Aruba has an unemployment rate of less than 1%.
Interest rates in both Aruba and the United States also have an impact on the exchange rate between the two currencies. Higher interest rates in one of the countries tend to lead to a higher exchange rate for that same country. Hence, if interest rates in Aruba rise, investors will be drawn to it and the value of the Aruban florin will rise.
How does the Aruban florin trade against the US dollar historically?
Before Aruba gained independence from the Netherlands, the region’s official currency was the Antillean guilder, which was pegged to the US dollar at 1.79 guilders to a dollar. After its separation from the Netherland Antilles in 1986, Aruba introduced its own currency, the Aruban florin.
Since its introduction, the florin has been pegged to the US dollar at the same rate, 1.79 florins for 1 US dollar. However, travelers to Aruba will often find that the “street value” of the currency may be fluctuating more. Usually, shops and restaurants in Aruba will exchange US dollars at a rate between 1.75 and 1.80 florin for 1 US dollar.
US Dollar to the Aruban Florin for the last 10 days
| Oct 05 | Oct 06 | Oct 07 | Oct 08 | Oct 09 | Oct 10 | Oct 11 | Oct 12 | Oct 13 | Oct 14 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 |
US Dollar to the Aruban Florin for the last 10 months
| Dec 2018 | Jan 2019 | Feb 2019 | Mar 2019 | Apr 2019 | May 2019 | Jun 2019 | Jul 2019 | Aug 2019 | Sep 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8005 Inverse: 0.5554 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8010 Inverse: 0.5552 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8000 Inverse: 0.5556 | 1.8010 Inverse: 0.5552 |
US Dollar to the Aruban Florin for the last 10 years
| Oct 2009 | Oct 2010 | Oct 2011 | Oct 2012 | Oct 2013 | Oct 2014 | Oct 2015 | Oct 2016 | Oct 2017 | Oct 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 1.7903 Inverse: 0.5586 | 1.7903 Inverse: 0.5586 | 1.7903 Inverse: 0.5586 | 1.7912 Inverse: 0.5583 | 1.7900 Inverse: 0.5587 | 1.7900 Inverse: 0.5587 | 1.7933 Inverse: 0.5576 | 1.7927 Inverse: 0.5578 | 1.7900 Inverse: 0.5587 | 1.8000 Inverse: 0.5556 |
Market rate for common transfer amounts USD to AWG
| US Dollars (USD) | Aruban Florin (AWG) |
|---|---|
| $1 | 0 |
| $100 | 0 |
| $500 | 0 |
| $1000 | 0 |
| $1500 | 0 |
| $2500 | 0 |
| $5000 | 0 |
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