One United States dollar was worth over ****** Indonesian rupiah in May 2024, the highest value in a comparison of over 50 different currencies worldwide. All countries and territories shown here are based on the Big Mac Index - a measurement of how much a single Big Mac is worth across different areas in the world. This exchange rate comparison reveals a strong position of the dollar in Asia and Latin America. Note, though, that several of the top currencies shown here do not rank among the most traded. The quarterly U.S. dollar exchange rate against the ten biggest forex currencies only contains the Korean won and the Japanese yen.

South African monthly The FTSE/JSE All Share Index data was procured from Bloomberg and the nominal effective exchange rate (NEER) from South African Reserve Bank (SARB) database, where the data has been seasonally adjusted specifying 2015 as the base year. Volatility measures in these markets are generated through a multivaraite EGARCH model in the WinRATS software. South African monthly consumer price index (CPI) data was procured from the International Monetary Fund’s International Financial Statistics (IFS) database, where the data has been seasonally adjusted, specifying 2010 as the base year. The inflation rate is constructed by taking the year-on-year changes in the monthly CPI figures. Inflation uncertainty was generated through the GARCH model in Eviews software. The following South African macroeconomic variables were procured from the SARB: real industrial production (IP), which is used as a proxy for real GDP, real investment (I), real consumption (C), inflation (CPI), broad money (M3), the 3-month treasury bill rate (TB3) and the policy rate (R), a measure of U.S. EPU developed by Baker et al. (2016) to account for global developments available at http://www.policyuncertainty.com/us_monthly.html.

Inflation in the table below is defined as the percent change in the CPI from the same month last year. The first column of numbers shows the latest value available from the national authorities and the next two columns show the levels of annual inflation three months and one year prior to the latest release. The data are updated daily. Over long stretches of time - typically years - inflation is a byproduct of the expansion of money supply. In the short run the inflation rate fluctuates with economic growth as recessions slow down the increase in prices and rapid output growth accelerates it. Shits in exchange rates, commodity prices, and natural phenomena like droughts also have an impact. Over time, however, these factors have only a transitory effect and the only variable that matters is money supply growth. The control of inflation is delegated to central banks that typically try to balance between relatively low inflation and low unemployment. For more, you can read our articles about optimal inflation and the causes of inflation in the short run and the long run.

In 2023, the average exchange rate from U.S. dollars to Indonesian rupiah amounted to approximately 15,416, meaning that one U.S. dollar could buy 15,416 Indonesian rupiah. During the surveyed period, the Indonesian rupiah exchange rate against the U.S. dollar fluctuated and tended to depreciate. Inflation in Indonesia Indonesia's inflation rate has risen in the past few months due to rising food prices and airfares. The annual inflation rate in June 2022 was the highest in the past few years. This value finally passed Indonesia's central bank's inflation target range for that year, between two and four percent. However, with the ongoing COVID-19 pandemic and the Ukraine-Russia war, the inflation rate increase in Indonesia is still relatively low compared to other countries, showing a strong economy. Balance of trade in Indonesia Following Russia's invasion of Ukraine, Indonesia has seen growth in trade, particularly for coal, palm oil, and minerals. Coal exports were briefly prohibited at the beginning of the year to secure domestic supplies, but they quickly resumed and reached record highs in March 2022. With this rising trade and steady development, Indonesia, the largest economy in Southeast Asia, is also expected to attract more foreign investment, lowering inflation and increasing the country's currency exchange rate.

Graph and download economic data for Currency Conversions: US Dollar Exchange Rate: Average of Daily Rates: National Currency: USD for Turkey (CCUSMA02TRM618N) from Jan 1957 to Jun 2025 about Turkey, exchange rate, currency, and rate.

ABSTRACT Since the beginning of the Quantitative Theory of Money by David Hume, the relation between money and price level has been analyzed by monetary economists. Nowadays the search for price stability has induced the policymakers to adopt one of three monetary regimes: fixed exchange rate, monetary targeting, or inflation targeting. The present paper makes a comparative analysis among these possibilities highlighting the advantages and disadvantages that belong to each monetary regime.

As of August 1, 2023, one U.S. dollar could buy 21,021.7 Sierra Leonean leones (SLL), the highest exchange rate among the African currencies. Furthermore, one U.S. dollar corresponded to 758.9 Nigerian naira (NGN), 30.85 Egyptian pounds (EGP), 18.03 South African rand (ZAR), and 9.86 Moroccan dirhams (MAD) as of the same date.

Exchange rates and inflation: a case study of West African countries

Exchange rates can affect a country's inflation rate and the purchasing power of its currency. If a country's currency depreciates significantly, it can lead to higher inflation as the cost of imported goods and services increases. Indeed, the inflation rate in Sierra Leone increased steeply over the past two years. The IMF further estimates that inflation will continue to rise before falling again. This high inflation and other factors also led to the depreciation of the SLL. Furthermore, a regional perspective showed that Nigeria and Liberia faced similar high inflation rates.

Businesses' strategies for tackling inflation

Unfavorable exchange rates negatively impact countries' economies. It does this in various ways, including limiting businesses' ability to grow. Issues such as inflation affect purchasing power and businesses' investment decisions. In 2023, a survey revealed that a substantial number of micro, small, and medium enterprises (MSMEs) employed various measures to offset the impact of inflation. Approximately 36 percent of these businesses tapped into their personal savings to bolster their operations, while another 32 percent opted to scale down their business activities.

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Foreign Exchange Market Size 2025-2029

The foreign exchange market size is forecast to increase by USD 582 billion, at a CAGR of 10.6% between 2024 and 2029.

The Foreign Exchange Market is segmented by type (reporting dealers, financial institutions, non-financial customers), trade finance instruments (currency swaps, outright forward and FX swaps, FX options), trading platforms (electronic trading, over-the-counter (OTC), mobile trading), and geography (North America: US, Canada; Europe: Germany, Switzerland, UK; Middle East and Africa: UAE; APAC: China, India, Japan; South America: Brazil; Rest of World). This segmentation reflects the market's global dynamics, driven by institutional trading, increasing digital adoption through electronic trading and mobile trading, and regional economic activities, with APAC markets like India and China showing significant growth alongside traditional hubs like the US and UK.
The market is experiencing significant shifts driven by the escalating trends of urbanization and digitalization. These forces are creating 24x7 trading opportunities, enabling greater accessibility and convenience for market participants. However, the market's dynamics are not without challenges. The uncertainty of future exchange rates poses a formidable obstacle for businesses and investors alike, necessitating robust risk management strategies. As urbanization continues to expand and digital technologies reshape the trading landscape, market players must adapt to remain competitive. One significant trend is the increasing use of money transfer agencies, venture capital investments, and mutual funds in foreign exchange transactions. Companies seeking to capitalize on these opportunities must navigate the challenges effectively, ensuring they stay abreast of exchange rate fluctuations and implement agile strategies to mitigate risk.
The ability to adapt and respond to these market shifts will be crucial for success in the evolving market.

What will be the Size of the Foreign Exchange Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic and intricate realm of the market, entities such as algorithmic trading, order book, order management systems, and liquidity risk intertwine, shaping the ever-evolving market landscape. The market's continuous unfolding is characterized by the integration of various components, including sentiment analysis, Fibonacci retracement, mobile trading, and good-for-the-day orders. Market activities are influenced by factors like political stability, monetary policy, and market liquidity, which in turn impact economic growth and trade settlement. Technical analysis, with its focus on chart patterns and moving averages, plays a crucial role in informing trading decisions. The market's complexity is further amplified by the presence of entities like credit risk, counterparty risk, and operational risk.

Central bank intervention, order execution, clearing and settlement, and trade confirmation are essential components of the market's infrastructure, ensuring a seamless exchange of currencies. Geopolitical risk, currency correlation, and inflation rates contribute to currency volatility, necessitating hedging strategies and risk management. Market risk, interest rate differentials, and commodity currencies influence trading strategies, while cross-border payments and brokerage services facilitate international trade. The ongoing evolution of the market is marked by the emergence of advanced trading platforms, automated trading, and real-time data feeds, enabling traders to make informed decisions in an increasingly interconnected and complex global economy.

How is this Foreign Exchange Industry segmented?

The foreign exchange industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Reporting dealers
  Financial institutions
  Non-financial customers


Trade Finance Instruments

  Currency swaps
  Outright forward and FX swaps
  FX options


Trading Platforms

  Electronic Trading
  Over-the-Counter (OTC)
  Mobile Trading


Geography

  North America

    US
    Canada


  Europe

    Germany
    Switzerland
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The reporting dealers segment is estimated to witness significant growth during the forecast period.

The market is a dynamic and complex ecosystem where various entities interplay to manage currency risks and facilitate international trade. Reporting dealers, as key participants,

Graph and download economic data for Nominal Broad U.S. Dollar Index (DTWEXBGS) from 2006-01-02 to 2025-07-18 about trade-weighted, broad, exchange rate, currency, goods, services, rate, indexes, and USA.

When converted to the value of one British pound Sterling in 2019, goods and services that cost one pound in 1210 would cost just over two thousand pounds in 2019, meaning that one pound in 1210 was worth approximately two thousand times more than it is today. This data can be used to calculate how much goods and services from the years shown would cost today, by multiplying the price from then by the number shown in the graph. For example, an item that cost 50 pounds in 1970 would theoretically cost 780 pounds in 2019's money.

ABSTRACT Having just completed its second consecutive “lost decade”, the Venezuelan case confirms that there are no short cuts to sound political economic management in the era of high capital mobility and securitized capital flows. The maintenance of a muddling-through exchange rate strategy has triumphed, at least for the time being, and enabled an elite executive-level coalition to prevail in pursuing a less than optimal macroeconomic policy. The author argues that Venezuela has avoided a full-blown Mexican or Brazilian-style devaluation by virtue of the Central Bank’s ability to effectively manage the exchange rate. However, this has been the only pocket of modernization, as policymakers throughout the rest of the state bureaucracy have rejected the kinds of market reforms that will be necessary to reverse the country’s highly mediocre performance. While high oil prices since 1999 have afforded politicians and policymakers the “luxury” of being a reform laggard, Venezuelan leaders seem determined to learn the hard way that international trends could again swing against them on a moment’s notice.

The data illustrates key economic indicators from 2008 to 2023, including, forecasting year, annual consumer inflation rates, broad money and domestic credit relative to GDP, as well as nominal and real exchange rates. Inflation has fluctuated notably, peaking in 2008 and again in 2022, while broad money and private-sector credit as percentages of GDP have shown a clear upward trend, indicating increasing financial sector depth. Exchange rates have remained relatively stable over the years, with only slight nominal depreciation.

A monthly and quarterly data set spanning July 1995 to December 2016 of the following macro-economic variables 1. South African stock market 2. South African GDP3. United States GDP 4. South African interest rate 5. US interest rate 6. South African inflation rate 7. US inflation rate 8. South African Money Supply 9. Rand/Dollar Exchange 10. FTSE

Key information about Turkey Real Effective Exchange Rate

• Turkey Real Effective Exchange Rate (REER: 2005=100: Month Avg: Turkey) was 66.9 in Jan 2025, compared with the number of 64.3 in the previous month.
• Turkey Real Effective Exchange Rate data is updated monthly and averaged 113.3 from Jan 1994 to Jan 2025.
• The data reached an all-time high of 113.3 in Dec 2007 and a record low of 44.6 in Dec 2021.