The expansion of global currencies has exceeded nine percent over the last
year.
This essay investigates which currencies are contributing the most to this
development. One hundred currencies from 95 sovereign nations and five
monetary unions have been
examined.
The following pie chart shows the relative value of global currencies (M0)
when converted to USD for means of comparison.
The Euro, US Dollar, Japanese Yen and Chinese Renminbi (Yuan) make up
nearly three-quarters of the value of all circulating currency. While smaller
currencies may be increasing at a faster rate, even minor percentage
increases in any of these dominant currencies significantly changes the
overall global totals, as evidenced by comparing the two tables below:
Twenty Fastest Growing Currencies in Relative Terms
|
Rank
|
Country
|
Currency Code
|
Y-O-Y Increase
in M0
|
Date
|
XRATE
|
|
Billions
|
%
|
US$ Billions
|
|
1
|
Iran
|
IRR
|
77855.0
|
97.4%
|
8.2
|
Mar-09
|
0.00010
|
|
2
|
Iceland
|
ISK
|
7.4
|
58.7%
|
0.1
|
Aug-09
|
0.00826
|
|
3
|
Angola
|
AON
|
46.6
|
47.1%
|
0.6
|
Apr-09
|
0.01337
|
|
4
|
Tajikistan
|
TJS
|
0.4
|
37.9%
|
0.1
|
Jul-09
|
0.22780
|
|
5
|
Iraq
|
IQD
|
5182.2
|
35.1%
|
4.5
|
Feb-09
|
0.00088
|
|
6
|
Venezuela
|
VEF
|
4.4
|
29.6%
|
2.1
|
Aug-09
|
0.46680
|
|
7
|
UAE
|
AED
|
7.7
|
26.5%
|
2.1
|
Mar-09
|
0.27230
|
|
8
|
Albania
|
ALL
|
40.9
|
26.4%
|
0.5
|
Dec-08
|
0.01164
|
|
9
|
Israel
|
ILS
|
6.9
|
25.1%
|
1.8
|
Aug-09
|
0.26240
|
|
10
|
Lebanon
|
LBP
|
453.2
|
24.7%
|
0.3
|
Aug-09
|
0.00068
|
|
11
|
Sudan
|
SDG
|
1.2
|
21.8%
|
0.5
|
Mar-09
|
0.44180
|
|
12
|
Turkey
|
TRY
|
5.9
|
21.0%
|
3.9
|
Aug-09
|
0.67420
|
|
13
|
Azerbaijan
|
AZN
|
0.6
|
20.8%
|
0.7
|
Mar-09
|
1.24560
|
|
14
|
Algeria
|
DZD
|
277.3
|
20.6%
|
3.8
|
Mar-09
|
0.01354
|
|
15
|
Tanzania
|
TZS
|
225.8
|
19.8%
|
0.2
|
Mar-09
|
0.00077
|
|
16
|
Libya
|
LYD
|
1.0
|
19.3%
|
0.4
|
Jul-09
|
0.82450
|
|
17
|
Suriname
|
SRD
|
0.1
|
18.8%
|
0.0
|
Jun-09
|
0.37040
|
|
18
|
Indonesia
|
INR
|
1093.6
|
18.6%
|
22.6
|
Aug-09
|
0.02070
|
|
19
|
Pakistan
|
PKR
|
176.2
|
17.3%
|
2.1
|
Aug-09
|
0.01208
|
|
20
|
Philippines
|
PHP
|
62.5
|
16.3%
|
1.3
|
Jun-09
|
0.02079
|
Twenty Fastest Growing Currencies in Terms of US
Dollars
|
Rank
|
Country
|
Currency Code
|
Y-O-Y Increase
in M0
|
Date
|
XRATE
|
|
Billions
|
%
|
US$ Billions
|
|
1
|
EU
|
EUR
|
87.9
|
13.4%
|
125.7
|
Aug-09
|
1.43080
|
|
2
|
US
|
USD
|
81.4
|
10.5%
|
81.4
|
Aug-09
|
1.00000
|
|
3
|
China
|
CNY
|
355.5
|
11.5%
|
52.1
|
Aug-09
|
0.14660
|
|
4
|
India
|
INR
|
1093.6
|
18.6%
|
22.6
|
Aug-09
|
0.02070
|
|
5
|
Iran
|
IRR
|
77855.0
|
97.4%
|
8.2
|
Aug-09
|
0.00010
|
|
6
|
UK
|
GBP
|
4.2
|
8.4%
|
6.8
|
Mar-09
|
1.62750
|
|
7
|
Japan
|
JPY
|
551.6
|
0.8%
|
5.9
|
Aug-09
|
0.01070
|
|
8
|
Brazil
|
BRL
|
8.5
|
11.1%
|
4.6
|
Aug-09
|
0.54600
|
|
9
|
Mexico
|
MXN
|
60.5
|
14.9%
|
4.6
|
Aug-09
|
0.07560
|
|
10
|
Iraq
|
IQD
|
5182.2
|
35.1%
|
4.5
|
Aug-09
|
0.00088
|
|
11
|
Switzerland
|
CHF
|
4.6
|
11.5%
|
4.3
|
Feb-09
|
0.94410
|
|
12
|
Turkey
|
TRY
|
5.9
|
21.0%
|
3.9
|
Aug-09
|
0.67420
|
|
13
|
Poland
|
PLN
|
11.1
|
10.2%
|
3.9
|
Aug-09
|
0.35150
|
|
14
|
Australia
|
AUD
|
4.6
|
11.2%
|
3.9
|
Aug-09
|
0.84160
|
|
15
|
Algeria
|
DZD
|
277.3
|
20.6%
|
3.8
|
Aug-09
|
0.01354
|
|
16
|
S Korea
|
KRW
|
4462.7
|
15.6%
|
3.6
|
Mar-09
|
0.00082
|
|
17
|
Canada
|
CAD
|
3.4
|
6.8%
|
3.2
|
Aug-09
|
0.91660
|
|
18
|
Hong Kong
|
HKD
|
21.6
|
13.3%
|
2.8
|
Aug-09
|
0.12900
|
|
19
|
Egypt
|
EGP
|
14.9
|
13.3%
|
2.7
|
Aug-09
|
0.17970
|
|
20
|
Taiwan
|
TWD
|
85.6
|
10.8%
|
2.6
|
Jun-09
|
0.03042
|
I believe that the trend of countries flooding their monetary systems with
ever-expanding amounts of fiat money will erode the value of their respective
currencies. Dollardaze will continue to monitor the expansion of money supply
and its resulting effects on purchasing power.
