The USD/JPY exchange rate fell to 146.5600 on July 23, 2025, down 0.14% from the previous session. Over the past month, the Japanese Yen has weakened 1.12%, but it's up by 4.78% over the last 12 months. Japanese Yen - values, historical data, forecasts and news - updated on July of 2025.

The euro and U.S. dollar made up more than ***** of 10 SWIFT payments worldwide in 2025, outperforming many other currencies. This is according to a monthly report meant to track the market share of China's yuan renminbi within the international bank transfer system SWIFT. Although China holds the largest forex reserves in the world, the yuan ranked as the ******-used currency in international payments. The figures concern customer-initiated and institutional payments and exclude trade. Discussions on the potential weakening role of the U.S. dollar especially touch world trade and forex. For example, the share of the USD in forex reserves declined visibly against the euro and Japanese yen in 2024. What sparked this de-dollarization trend, and will it continue? Trade sanctions and de-dollarization De-dollarization in 2024 is mentioned mostly alongside trade and the BRICS countries - an informal name given to Brazil, Russia, India, China, and South Africa. The combined GDP of BRICS is about ** percent of the world's economy. After the start of the Ukraine war and Russia received economic sanctions, the BRICS slowly evolved into a trading bloc. The group increasingly wanted its own currency to settle payments within the trade bloc, to avoid using the U.S. dollar. In August 2024, BRICS will gather in South Africa to discuss the creation of such a new joint currency. Additionally, ** countries - including Argentina, Algeria, Egypt, Saudi Arabia, Turkey, and Yemen - expressed interest in joining the BRICS group. CBDC, or projects into a digital payment settlement A factor of future uncertainty for the U.S. dollar is how central bank digital currencies (CBDC) develop in emerging countries. Several projects exist between individual countries that specifically target cross-border interbank payments. A cooperation between Thailand and Hong Kong, Inthanon-Lionrock, ranks as the most advanced of these projects. CBDC does not require the U.S. dollar to function. Tangible such as commodities or gold can back them. The value of transactions processed with CBDC is to grow by ******* percent between 2024 and 2030.

Japan receives almost **** of its commodity imports from Asia, as China remains a key trade partner. In 2024, commodities imported from China accounted for a **** percent share of imports on a value basis. The United States followed as the second-largest source of goods entering Japan, while it overtook China as the leading export partner in 2024. What goods are entering Japan? The country’s low energy self-sufficiency and lack of reserves makes ************* like *********, *********************, and **** a key import item. Another commodity group important to domestic manufacturers is electrical machinery, including semiconductors and communications devices. As Japan is home to prominent multinational corporations in the automotive, technology, and consumer electronics industries, semiconductors have become a strategic element to the country’s economic success. While the Japanese government plans to revive the domestic semiconductor industry through financial support, imports of integrated circuits from production areas like Taiwan and South Korea are needed to meet demand. Japan’s import position in the global market Japan’s current account of goods and services is characterized by a deficit as imports exceed exports. The country managed to shrink the deficit in the last decade, but it grew again since 2022. A jump in mineral fuel prices and the weakening of the yen compared to major currencies like the U.S. dollar and euro drove up import costs. Apart from China, major trade partners with whom Japan recorded a negative trade balance include mostly suppliers of ************* like *********, ************, and the ********************.

The DXY exchange rate rose to 97.3823 on July 24, 2025, up 0.17% from the previous session. Over the past month, the United States Dollar has weakened 0.30%, and is down by 6.67% over the last 12 months. United States Dollar - values, historical data, forecasts and news - updated on July of 2025.

A graphic that displays the dollar performance against other currencies reveals that economic developments had mixed results on currency exchanges. The third quarter of 2023 marked a period of disinflation in the euro area, while China's projected growth was projected to go up. The United States economy was said to have a relatively strong performance in Q3 2023, although growing capital market interest rate and the resumption of student loan repayments might dampen this growth at the end of 2023. A relatively weak Japanese yen Q3 2023 saw pressure from investors towards Japanese authorities on how they would respond to the situation surrounding the Japanese yen. The USD/JPY rate was close to ***, whereas analysts suspected it should be around ** given the country's purchase power parity. The main reason for this disparity is said to be the differences in central bank interest rates between the United States, the euro area, and Japan. Any future aggressive changes from, especially the U.S. Fed might lower those differences. Financial markets responded somewhat disappoint when Japan did not announce major plans to tackle the situation. Potential rent decreases in 2024 Central bank rates peak in 2023, although it is expected that some of these will decline in early 2024. That said, analysts expect overall policies will remain restrictive. For example, the Bank of England's interest rate remained unchanged at **** percent in Q3 2023. It is believed the United Kingdom's central bank will ease its interest rate in 2024 but less than either the U.S. Fed or the European Central Bank. This should be a positive development for the pound compared to either the euro or the dollar.

Weak exogeneity of the country-specific foreign variables.

The EUR/USD exchange rate fell to 1.1735 on July 24, 2025, down 0.33% from the previous session. Over the past month, the Euro US Dollar Exchange Rate - EUR/USD has strengthened 0.44%, and is up by 8.14% over the last 12 months. Euro US Dollar Exchange Rate - EUR/USD - values, historical data, forecasts and news - updated on July of 2025.

The USD/BRL exchange rate rose to 5.5285 on July 24, 2025, up 0.13% from the previous session. Over the past month, the Brazilian Real has strengthened 0.64%, and is up by 2.06% over the last 12 months. Brazilian Real - values, historical data, forecasts and news - updated on July of 2025.

The USD/CNY exchange rate fell to 7.1472 on July 24, 2025, down 0.05% from the previous session. Over the past month, the Chinese Yuan has strengthened 0.28%, and is up by 1.28% over the last 12 months. Chinese Yuan - values, historical data, forecasts and news - updated on July of 2025.

The USD/MXN exchange rate rose to 18.5643 on July 24, 2025, up 0.15% from the previous session. Over the past month, the Mexican Peso has strengthened 1.83%, but it's down by 0.64% over the last 12 months. Mexican Peso - values, historical data, forecasts and news - updated on July of 2025.

The USD/TRY exchange rate rose to 40.4736 on July 24, 2025, up 0.07% from the previous session. Over the past month, the Turkish Lira has weakened 1.90%, and is down by 22.20% over the last 12 months. Turkish Lira - values, historical data, forecasts and news - updated on July of 2025.

The USD/KRW exchange rate fell to 1,370.1900 on July 24, 2025, down 0.34% from the previous session. Over the past month, the South Korean Won has weakened 0.80%, but it's up by 0.81% over the last 12 months. South Korean Won - values, historical data, forecasts and news - updated on July of 2025.

The GBP/USD exchange rate rose to 1.3586 on July 24, 2025, up 0.05% from the previous session. Over the past month, the British Pound has weakened 0.76%, but it's up by 5.69% over the last 12 months. British Pound - values, historical data, forecasts and news - updated on July of 2025.

The USD/INR exchange rate fell to 86.3433 on July 23, 2025, down 0.00% from the previous session. Over the past month, the Indian Rupee has weakened 0.03%, and is down by 3.15% over the last 12 months. Indian Rupee - values, historical data, forecasts and news - updated on July of 2025.

The NZD/USD exchange rate rose to 0.6001 on July 23, 2025, up 0.06% from the previous session. Over the past month, the New Zealand Dollar has weakened 0.16%, but it's up by 1.28% over the last 12 months. New Zealand Dollar - values, historical data, forecasts and news - updated on July of 2025.

The USD/CAD exchange rate fell to 1.3598 on July 23, 2025, down 0.05% from the previous session. Over the past month, the Canadian Dollar has strengthened 0.93%, and is up by 1.55% over the last 12 months. Canadian Dollar - values, historical data, forecasts and news - updated on July of 2025.

The AUD/USD exchange rate rose to 0.6603 on July 23, 2025, up 0.76% from the previous session. Over the past month, the Australian Dollar has strengthened 1.65%, and is up by 0.44% over the last 12 months. Australian Dollar - values, historical data, forecasts and news - updated on July of 2025.

The USD/ZAR exchange rate rose to 17.6220 on July 24, 2025, up 0.44% from the previous session. Over the past month, the South African Rand has strengthened 0.69%, and is up by 4.00% over the last 12 months. South African Rand - values, historical data, forecasts and news - updated on July of 2025.