Estimated reading time: 2 minutes
In the dynamic world of international finance, currency exchange rates play a pivotal role in shaping economic conditions for countries and investors alike. Over the past month, we have witnessed significant fluctuations in currencies against the US Dollar. Let’s take a closer look at the winners and losers in this exchange rate rollercoaster.
| Country | Percentage Change |
|---|---|
| 🇵🇰 Pakistan | +9.67% |
| 🇳🇬 Nigeria | +2.30% |
| 🇨🇳 China | +1.63% |
| 🇸🇪 Sweden | +1.21% |
| 🇦🇪 UAE | 0.0% |
| 🇸🇦 Saudi Arabia | 0.0% |
| 🇮🇳 India | -0.12% |
| 🇸🇬 Singapore | -0.13% |
| 🇦🇷 Argentina | -0.17% |
| 🇨🇦 Canada | -0.23% |
| 🇦🇺 Australia | -0.31% |
| 🇰🇷 South Korea | -0.59% |
| 🇯🇵 Japan | -0.88% |
| 🇿🇦 South Africa | -1.31% |
| 🇩🇰 Denmark | -1.38% |
| 🇪🇺 Euro | -1.43% |
| 🇮🇩 Indonesia | -1.74% |
| 🇨🇠Switzerland | -1.88% |
| 🇮🇱 Israel | -2.00% |
| 🇬🇧 UK | -2.13% |
| 🇳🇴 Norway | -2.49% |
| 🇷🇺 Russia | -3.03% |
| 🇹🇷 Türkiye | -3.22% |
| 🇧🇷 Brazil | -3.24% |
| 🇲🇽 Mexico | -3.78% |
Winners
- 🇵🇰 Pakistan: Leading the pack with an impressive +9.67% gain against the US Dollar, Pakistan’s currency has shown remarkable strength in the past month. This performance can be attributed to various factors, including improved economic stability and investor confidence.
- 🇳🇬 Nigeria: Nigeria’s currency experienced a significant boost of +2.30%, reflecting positive developments in the country’s economy and potentially increased demand for its currency.
- 🇨🇳 China: With a +1.63% increase, China’s Yuan has displayed resilience in the face of global economic challenges, cementing its status as one of the world’s key currencies.
- 🇸🇪 Sweden: Sweden’s currency also performed well, gaining +1.21% against the US Dollar. This could be attributed to the country’s strong economic fundamentals and stability.
Losers
- 🇲🇽 Mexico: The Mexican Peso faced significant headwinds, losing -3.78% of its value against the US Dollar. Factors such as economic uncertainty and global market dynamics likely contributed to this decline.
- 🇷🇺 Russia: The Russian Ruble depreciated by -3.03%, reflecting the impact of geopolitical tensions and economic sanctions on the currency.
- 🇹🇷 Türkiye: The Turkish Lira struggled with a -3.22% drop, highlighting ongoing economic challenges in the country.
- 🇧🇷 Brazil: Brazil’s Real saw a 3.24% decrease, possibly linked to concerns about inflation and fiscal policies.
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