Steem Exchange Rates for Friday, 10 September 2021
Today's exchange rates with reserve currencies:
| Steem | 1 |
|---|---|
| AUD | 10.86 |
| CAD | 10.13 |
| CHF | 7.33 |
| CNY | 51.66 |
| EUR | 6.77 |
| GBP | 5.78 |
| JPY | 878.16 |
| USD | 8.0 |
How did I come up with these values?
- First I collect the USD exchange rate for 1 Steem frrom crypto.com
- Next I collect the value of 1 USD for the other reserve currencies from xe.com
- Then I calulate the value of 1 steem in each currency
What is a reserve currency?
A reserve currency is a large quantity of currency maintained by central banks and other major financial institutions to prepare for investments, transactions, and international debt obligations, or to influence their domestic exchange rate. A large percentage of commodities, such as gold and oil, are priced in the reserve currency, causing other countries to hold this currency to pay for these goods.
You can find more details from wikipedia
I wrote a program that collects the information and generates this image with the exchange rates so that you can have a nice visualisation of what a Steem is worth in real money.
If you have any suggestions on how I can make this better please comment and I will try to apply your suggestions.