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Expansion of Global Fiat Currencies

Currencies / Fiat Currency Nov 13, 2009 - 07:43 PM GMT

By: Mike_Hewitt

Currencies

Best Financial Markets Analysis ArticleThe 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

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

By Mike Hewitt
http://www.dollardaze.org

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.

Mike Hewitt Archive

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