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International dollar
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The international dollar (int'l dollar or intl dollar, symbols Int'l\$., Intl\$., Int\$), also known as Geary–Khamis dollar (symbols G-K\$ or GK\$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar had in the United States at a given point in time.[1][2] It is mainly used in economics and financial statistics for various purposes, most notably to determine and compare the purchasing power parity and gross domestic product of various countries and markets. The year 1990 or 2000 is often used as a benchmark year for comparisons that run through time. The unit is often abbreviated, e.g. 2000 US dollars or 2000 International\$ (if the benchmark year is 2000).
It is based on the twin concepts of purchasing power parities (PPP) of currencies and the international average prices of commodities. It shows how much a local currency unit is worth within the country's borders. It is used to make comparisons both between countries and over time. For example, comparing per capita gross domestic product (GDP) of various countries in international dollars, rather than based simply on exchange rates, provides a more valid measure to compare standards of living. It was proposed by Roy C. Geary in 1958 and developed by Salem Hanna Khamis between 1970 and 1982.
Figures expressed in international dollars cannot be converted to another country's currency using current market exchange rates; instead they must be converted using the country's PPP exchange rate used in the study.
Exchange rate by country
According to IMF, below is the exchange rate of International dollar to local currency of respective countries in 2018:
 Country Exchange rate in 2018[3] Afghanistan 19.483 Albania 42.454 Algeria 31.034 Angola 133.623 Antigua and Barbuda 1.683 Argentina 15.95 Armenia 196.873 Aruba 1.154 Australia 1.44 Austria 0.833 Azerbaijan 0.445 Bahamas, The 1.005 Bahrain 0.191 Bangladesh 31.561 Barbados 1.904 Belarus 0.642 Belgium 0.818 Belize 1.143 Benin 211.003 Bhutan 22.711 Bolivia 3.119 Bosnia and Herzegovina 0.702 Botswana 4.531 Brazil 2.027 Brunei Darussalam 0.528 Bulgaria 0.665 Burkina Faso 200.504 Burundi 753.844 Cabo Verde 45.624 Cambodia 1399.891 Cameroon 225.503 Canada 1.207 Central African Republic 315.84 Chad 201.125 Chile 396.744 China, People's Republic of 3.499 Colombia 1314.614 Comoros 207.693 Congo, Dem. Rep. of the 976.995 Congo, Republic of 209.142 Costa Rica 393.262 Croatia 6.25 Cyprus 0.6 Czech Republic 13.45 Côte d'Ivoire 223.279 Denmark 7.356 Djibouti 93.361 Dominica 1.888 Dominican Republic 22.49 Ecuador 0.541 Egypt 3.425 El Salvador 0.488 Equatorial Guinea 255.465 Eritrea 4.865 Estonia 0.578 Eswatini 5.168 Ethiopia 10.028 Fiji 1.112 Finland 0.903 France 0.792 Gabon 247.587 Gambia, The 13.22 Georgia 0.964 Germany 0.77 Ghana 1.567 Greece 0.592 Grenada 1.846 Guatemala 4.048 Guinea 3532.387 Guinea-Bissau 235.528 Guyana 120.031 Haiti 30.474 Honduras 11.646 Hong Kong SAR 5.915 Hungary 134.826 Iceland 144.259 India 18.13 Indonesia 4240.903 Iran 17.750 Iraq 395.634 Ireland 0.833 Israel 3.943 Italy 0.732 Jamaica 73.926 Japan 98.089 Jordan 0.321 Kazakhstan 117.161 Kenya 50.041 Kiribati 1.05 Korea, Republic of 847.093 Kosovo 0.322 Kuwait 0.14 Kyrgyz Republic 22.703 Lao P.D.R. 2842.329 Latvia 0.51 Lebanon 949.423 Lesotho 5.302 Liberia 0.513 Libya 0.759 Lithuania 0.465 Luxembourg 0.919 Macao SAR 5.692 Madagascar 939.227 Malawi 213.558 Malaysia 1.427 Maldives 10.265 Mali 216.138 Malta 0.574 Marshall Islands 1.029 Mauritania 10.238 Mauritius 16.071 Mexico 9.145 Micronesia, Fed. States of 1.052 Moldova 7.337 Mongolia 736.791 Montenegro 0.387 Morocco 3.537 Mozambique 22.368 Myanmar 288.453 Namibia 7.046 Nauru 1.269 Nepal 34.978 Netherlands 0.798 New Zealand 1.483 Nicaragua 11.586 Niger 216.631 Nigeria 110.449 North Macedonia 20.231 Norway 8.919 Oman 0.152 Pakistan 30.278 Palau 1.029 Panama 0.61 Papua New Guinea 2.372 Paraguay 2538.502 Peru 1.617 Philippines 18.28 Poland 1.741 Portugal 0.612 Puerto Rico 0.802 Qatar 1.976 Romania 1.829 Russian Federation 24.572 Rwanda 296.092 Saint Kitts and Nevis 1.613 Saint Lucia 2.057 Saint Vincent and the Grenadines 1.659 Samoa 1.883 San Marino 0.687 Saudi Arabia 1.584 Senegal 217.987 Serbia 41.223 Seychelles 7.589 Sierra Leone 2647.673 Singapore 0.859 Slovak Republic 0.472 Slovenia 0.602 Solomon Islands 7.804 Somalia 0.391 South Africa 6.172 South Sudan, Republic of 33.285 Spain 0.648 Sri Lanka 49.561 Sudan 7.67 Suriname 2.863 Sweden 8.807 Switzerland 1.251 Syria no data São Tomé and Príncipe 12.164 Taiwan Republic of China 14.212 Tajikistan 2.206 Tanzania 722.834 Thailand 12.354 Timor-Leste 0.435 Togo 212.697 Tonga 1.738 Trinidad and Tobago 3.435 Tunisia 0.731 Turkey 1.619 Turkmenistan 1.267 Tuvalu 1.252 Uganda 1085.74 Ukraine 9.115 United Arab Emirates 2.107 United Kingdom 0.697 United States 1 Uruguay 22.553 Uzbekistan 1472.271 Vanuatu 123.395 Venezuela 6.542 Vietnam 7790.097 Yemen 195.891 Zambia 3.818 Zimbabwe 1.005
Short description of Geary-Khamis system
This system is valuing the matrix of quantities using the international prices vector. The vector is obtained by averaging the national prices in the participating countries after their conversion into a common currency with PPP and weighing quantities. PPPs are obtained by averaging the shares of national and international prices in the participating countries weighted by expenditure. International prices and PPPs are defined by a system of interrelated linear equations that need to be solved simultaneously. The GK method produces PPPs that are transitive and actual final expenditures that are additive.
When comparing between countries and between years, the international dollar figures may be adjusted to compensate for inflation. In that case, the base year is chosen, and all figures will be expressed in constant international dollars for that specified base year. Researchers must understand, which adjustments are reflected in the data (Marty Schmidt):
•Population adjustments (In which case, figures represent per capita monies)
•Currency exchange rate adjustments (In which case, figures will be expressed in one currency unit (typically US\$, International \$, € £ or ¥)
•Purchasing power parity adjustments and/or average commodity prices (in which case, figures are typically expressed as International \$)
•Inflation adjustments (in which case, figures have been adjusted, based on changes in an inflation index such as the consumer price index, to represent currency for a "base" year, such as 2000).
Description of Geary-Khamis system
Suppose PPPj is the parity of j-th currency with a currency called international dollars, which may reflect any currency, however, US dollar is the most commonly used. Then the international price Pi is defined as an international average of prices of i-th commodity in various countries. Prices in these countries are expressed in their national currencies. Geary-Khamis method solves this by using national prices after conversion into a common currency using the purchasing power parities (PPP). Hence, the international price, Pi of i-th commodity is defined as:
This equation implies that the international price of i-th commodity is calculated by dividing the total output of i-th commodity in all selected countries, converted in international dollars, using purchasing power parities, by the total quantity produced of i-th commodity. Previous equation can be rewritten as follows:
This equation suggests that Pi is weighted average of international prices pij after conversion into international dollars using PPPj. PPPj is by Geary-Khamis system defined through this equation:
The numerator of the equation represents the total value of output in j-th country expressed in national currency, and the denominator is the value of j-th country output evaluated by repricing at international prices Pi in international dollars. Then PPPj gives the number of national currency units per international dollar.