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Expansion of Global Currencies
Mike Hewitt
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.
![Global M0 Money Supply Global M0 Money Supply](http://dollardaze.org/blog/posts/00719/gm0ms.png)
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.
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ABOUT THE AUTHOR
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DollarDaze.org, a website pertaining to commentary on the instability of the global fiat monetary system and investment strategies on mining companies. His website also provides a no-cost market data feed service with up-to-date quotes on currency exchange rates, commodity prices and major indices. Mike can be emailed at mikehewitt@hotmail.com. is the editor of |