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%
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
0.46680
7
UAE
AED
7.7
26.5%
0.27230
8
Albania
ALL
40.9
26.4%
0.5
Dec-08
0.01164
9
Israel
ILS
6.9
25.1%
1.8
0.26240
10
Lebanon
LBP
453.2
24.7%
0.3
0.00068
11
Sudan
SDG
1.2
21.8%
0.44180
12
Turkey
TRY
5.9
21.0%
3.9
0.67420
13
Azerbaijan
AZN
20.8%
0.7
1.24560
14
Algeria
DZD
277.3
20.6%
3.8
0.01354
15
Tanzania
TZS
225.8
19.8%
0.2
0.00077
16
Libya
LYD
1.0
19.3%
0.82450
17
Suriname
SRD
18.8%
0.0
Jun-09
0.37040
18
Indonesia
INR
1093.6
18.6%
22.6
0.02070
19
Pakistan
PKR
176.2
17.3%
0.01208
20
Philippines
PHP
62.5
16.3%
1.3
0.02079
Twenty Fastest Growing Currencies in Terms of US Dollars
EU
EUR
87.9
13.4%
125.7
1.43080
US
USD
81.4
10.5%
1.00000
China
CNY
355.5
11.5%
52.1
0.14660
India
UK
GBP
4.2
8.4%
6.8
1.62750
Japan
JPY
551.6
0.8%
0.01070
Brazil
BRL
8.5
11.1%
4.6
0.54600
Mexico
MXN
60.5
14.9%
0.07560
Switzerland
CHF
4.3
0.94410
Poland
PLN
11.1
10.2%
0.35150
Australia
AUD
11.2%
0.84160
S Korea
KRW
4462.7
15.6%
3.6
0.00082
Canada
CAD
3.4
6.8%
3.2
0.91660
Hong Kong
HKD
21.6
13.3%
2.8
0.12900
Egypt
EGP
14.9
2.7
0.17970
Taiwan
TWD
85.6
10.8%
2.6
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.
Mike Hewitt
Editor
DollarDaze.org
Also by Mike Hewitt
Mike Hewitt is the editor of www.DollarDaze.org, a website pertaining to commentary on the instability of the global fiat monetary system and investment strategies on mining companies.
Disclaimer: The opinions expressed above are not intended to be taken as investment advice. It is to be taken as opinion only and I encourage you to complete your own due diligence when making an investment decision.
© 2007 DollarDaze
