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:
| 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 |
| 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.
