One United States dollar was worth over 15,000 Indonesian rupiah in March 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 10 biggest forex currencies only contains the Korean won and the Japanese yen.

The euro-to-dollar exchange rate fluctuated significantly in 2022, reaching its lowest recorded value since 2008 during that time. Figures were different later in the year, however, with a rate of 1.08 USD recorded at the end of March 25, 2025. The average (standardized) measure is based on the calculation of many observations throughout the period in question. It is therefore different than an annual measure at point in time, which reflects concrete values as of end of the year. EstablishmentThe euro, which was established in 1992, introduced in non-physical form in 1999 and finally rolled out in 2002, is used by 19 of the 27 member states of the European Union. This group of 19 countries is otherwise known as the eurozone or euro area. By 2018, the total value of euro currency in circulation was almost 1.2 trillion euros, or over 3.4 thousand euros per capita.Euro to USDBetween 2001 and 2008, the average annual exchange rate of the euro to the U.S. dollar noted a steep increase. In 2008, the euro to U.S. dollar annual average exchange rate was equal to 1.47, which meant that one euro could buy 1.47 U.S. dollars. By 2019, this value had decreased overall, to a value of 1.12 which meant that one euro could buy 1.12 U.S. dollars. Similar dynamics in the euro to U.S. dollar exchange rate were also reflected in the monthly exchange rate in recent years.

During 2022, the GBP/USD exchange rate reached its lowest value ever recorded, after the UK government announced its initial plans to combat inflation. Prices did increase again after these plans were turned back shortly after. As of March 25, 2025, one pound was valued at roughly 1.29 U.S. dollars.What affects an exchange rateThere are several factors that can affect an exchange rate. In terms of the current situation, the political and economic standings surrounding Brexit is probably the largest driver in the current form of the British pound. Other factors include inflation and interest rates, public debts, deficits as well as the country's export prices to import prices ratio.British pound to EuroSince the United Kingdom (UK) held a referendum on its European Union membership in June 2016, the British pound's (GBP) standing against the Euro has also been affected. During the first half of 2020, the British pound against the Euro weakened overall.

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 150, whereas analysts suspected it should be around 90 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 5.25 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.

The pound to euro history reveals that exchange rates in 2022 were not as low as they were during 2008 or since the Brexit referendum. Since the United Kingdom (UK) held a referendum on its European Union membership in June 2016, the British pound (GBP) weakened against the euro. From a high of 1.43 at the end of Nov 2015, the GBP to EUR exchange rate has remained below 1.2 since July 2016, sitting at 1.11 as of October 2020. By March 25, 2025, values had reached 1.20 euros per pound. The euro to pound exchange rate can be found on a different page.Hitting UK citizens' pockets It is not just European holiday makers that are hit when the British pound to Euro exchange rate falls. The average UK consumer also feels the pinch as inflation rates often rise to cover the shortfall of the pound. When the inflation rate rises, the price of imported goods goes up and the consumer ends up paying more. GBP to U.S. dollarSince 2016's referendum, the British pound (GBP) fell across the exchange. The GBP's fall against the Euro was also reflected against the U.S. dollar where the exchange rate in May 2016 (pre-referendum) of 1.46 dollars to the pound has fallen significantly.

Up until 2020, one U.S. dollar could buy an increasing amount of Brazilian reals but this trend changed after 2021. As of March 26, 2025, one U.S. dollar was worth approximately 5.70 Brazilian real. Between March 2 and May 28 of 2020, the Brazilian real lost approximately 16 percent of its value in comparison to the U.S. dollar, due to the economic and financial recession originated by the COVID-19 pandemic.

The amount of Japanese yen that could be bought with USD kept increasing since September 2020. As of March 25, 2025, the exchange rate reached approximately 150.77 Japanese yen. The average (standardized) measure is based on the calculation of many observations throughout the period in question. It is therefore different than an annual measure at point in time, which reflects concrete values as of end of the year.

In February 2025, the exchange rate of yuan to U.S. dollar was 7.17. In the past decades, the yuan has undergone a slow liberalization, being increasingly exposed to the international money market. FOREX history of the Renminbi After the Communist Party took control over China it introduced a unified currency which has since then undergone many changes. During the planned economy, the yuan had a fixed exchange rate. At the time, the currency’s exchange rate was deliberately set high to support the industrial development, which relied on imports. After the country committed to opening its economy, the Renminbi was gradually exposed to the supply and demand of the global FOREX markets. Until 2005, the yuan remained pegged to the U.S. dollar. Currency manipulator, or not? As China manifested its role in the global economy, the country was repeatedly accused of manipulating the value of its currency. Especially, voices from the United States claimed that Beijing would intentionally keep the value of the yuan low. A cheap Renminbi would make products from China more attractive for foreign buyers which in turn would support the country’s export-driven economy. However, currency manipulation is difficult to make out and even harder to prove, which is why no significant actions have been taken.

The nominal effective exchange rate index of the Japanese yen stood at 73.87 points in January 2025. The real effective exchange rate index, which considers inflation in Japan and other economies, stood at 71.08 points.

The price of one euro reached approximately 102.3 Russian rubles on average in January 2025, having marked an increase compared to the previous month. The exchange rate of the U.S. dollar to the Russian ruble also declined relative to December 2024.

The amount of Norwegian kroner that could be bought with a single dollar increased steeply in 2022, as a consequence of the strong dollar. As of March 21, 2025, the exchange rate reached approximately 10.55 Norwegian kroner per dollar. The average (standardized) measure is based on the calculation of many observations throughout the period in question. It is therefore different than an annual measure at point in time, which reflects concrete values as of end of the year.

The exchange rate history of the euro against the Canadian dollar reveals a steady increase since 2015, although several dips did occur. Since 2021, for instance, the EUR/CAD exchange rate steadily declined - with one euro being worth 1.55 Canadian dollars as of the end of March 25, 2025. This is not as sharp a decline as in previous years, however. Between 2009 and 2012, the exchange rate noted a sharp decline in value with one euro being able to buy around 1.29 Canadian dollars. This sharp decline was most likely associated with the volatile changes brought to the financial markets by the global recession. Since 2012, the annual average euro to Canadian dollar exchange rate has recovered but remains to be lower than it was back in 1999.

The USD to ruble value lost significant ground after Russia's invasion of Ukraine, reaching a low of 135 rubles in March 2022. This devaluation is also observed in a chart that compares the monthly average of the ruble against both the U.S. dollar and the euro since 2008. A decline started in November 2020, and continued into 2021 - no specific reason was given for the timing of this development. Interestingly, the USD/RUB exchange rate reached its highest point earlier in 2020, as one U.S. dollar could buy nearly 80 rubles in March 2020. Values were noticeably different years later, however, as the USD/RUB exchange rate was valued at 84.92 on March 21, 2025.

According to data from the European Central Bank, this graph displays the monthly exchange rate (as of the end of each month) of the euro to the Polish zloty (EUR/PLN). The concrete, or time, the measure shows the exchange rate as of the last day of each month, which is different from the standardized measure, a calculation of the average based on observations throughout the period in question.As of February 2025, the exchange rate of the euro to the zloty amounted to 4.1503 a decrease from the previous month.   EUR/PLN exchange rate analysis      The initial phase of the economic activity breakdown in Poland and key global centers caused by the coronavirus epidemic is slowly passing. There is a growing belief in markets that many stimulus packages will improve the economic situation and allow for a relatively rapid return to growth. The recovery is conducive to recouping losses by emerging market currencies — among which is the Polish zloty. However, further strengthening of the Polish currency should be carried out gradually. The beginning of 2020 for the Polish zloty can be described as turbulent. The limited depreciation of the zloty against the euro in January and February turned into a violent sale in March. Starting from the beginning of the year to the minimum point that the zloty reached in relation to the euro in the second half of March, the Polish currency lost about eight percent.   Fundamental analysis      Recently, the Polish zloty has made up for some of the losses. The Polish government reacted quickly to the crisis caused by the coronavirus pandemic. On 13 March, the introduction of an "epidemic emergency" was announced, which on 20 March turned into an "epidemic state". Poland launched preventive measures relatively early, and the restrictions implemented were rather rigorous compared to many other European countries. Thus, economic activity in the country experienced a collapse. The GDP growth rate decreased from 3.2 percent y/y in the fourth quarter of 2019 to two percent in the first quarter of 2020. The data for the second quarter will undoubtedly show a much larger downturn scale, mostly due to the lockdown. April's data indicate an evident deterioration of the labor market situation. The data for the following months will most likely show a further increase in the unemployment rate. The Polish authorities have taken coordinated steps to support the economy during the crisis, assisting businesses and households. Under the two key adopted packages, the total value of measures is estimated at around 312 billion zloty, equivalent to roughly 15 percent of the country's GDP. Concerning the size of the economy, it is one of the most extensive aid packages among the European Union countries. Poland is in the process of opening the economy. This gives hope that economic activity in Poland will regain momentum. Apart from the significant fiscal and monetary stimulation undertaken by the Polish authorities, Poland can probably also count on considerable support from the EU. The new proposal of the European Commission assumes financial assistance for the EU countries. Poland will probably be one of the largest beneficiaries of this proposal if it is accepted in this or a similar form.

Key information about Ireland Real Effective Exchange Rate

• Ireland Real Effective Exchange Rate (HCI: 2005=100: Month Avg: Ireland) was 81.8 in Feb 2025, compared with the number of 81.9 in the previous month.
• Ireland Real Effective Exchange Rate data is updated monthly and averaged 110.0 from Jan 1993 to Feb 2025.
• The data reached an all-time high of 110.0 in Apr 2008 and a record low of 78.9 in Oct 2000.

CEIC generates Real Effective Exchange Rate Index with base 2005=100. European Central Bank provides Harmonized Competitiveness Indicator with base 1Q1999=100. CPI is used as a deflator. An increase in REER indicates reduced competitiveness for the reporting economy. Ireland is part of the Euro Area since January 1999.


Related information about Ireland Real Effective Exchange Rate

• In the latest reports, Ireland Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at 1.7 % pa in Dec 2021.
• The cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.9 % pa in Feb 2025.
• Ireland Exchange Rate against USD averaged 0.9 (USD/EUR) in Jun 2023.

Graph and download economic data for Mexican Pesos to U.S. Dollar Spot Exchange Rate (EXMXUS) from Nov 1993 to Feb 2025 about Mexico, exchange rate, currency, rate, and USA.

Key information about Argentina Real Effective Exchange Rate

• Argentina Real Effective Exchange Rate (REER: 2005=100: Month Avg: Argentina) was 49.3 in Jan 2025, compared with the number of 49.4 in the previous month.
• Argentina Real Effective Exchange Rate data is updated monthly and averaged 123.1 from Jan 1997 to Jan 2025.
• The data reached an all-time high of 123.1 in Jun 2002 and a record low of 41.1 in Oct 2001.

CEIC generates Real Effective Exchange Rate Index with base 2005=100. The Central Bank of Argentina provides Real Effective Exchange Rate Index with base 17 December 2015=100. CPI is used as a deflator. An increase in REER indicates reduced competitiveness for the reporting economy.


Related information about Argentina Real Effective Exchange Rate

• In the latest reports, Argentina Short Term Interest Rate: Month End: Argentina: Up to 15 Days Interbank Call Rate (BAIBAR) was reported at 31.8 % pa in Jul 2021.
• The cash rate (Interest Rate: Financial Institution Deposit: 30 Days) was set at 28.7 % in Jan 2025.
• Argentina Exchange Rate against USD averaged 254.0 (USD/ARS) in Jun 2023.

Euro (EUR) to Turkish lira (TRY) exchange rate from May 26, 2021 to March 26, 2025

Key information about Pakistan Real Effective Exchange Rate

• Pakistan Real Effective Exchange Rate (REER: 2010=100: Month Avg: Pakistan) was 103.7 in Dec 2024, compared with the number of 103.0 in the previous month.
• Pakistan Real Effective Exchange Rate data is updated monthly and averaged 123.7 from Jan 2013 to Dec 2024.
• The data reached an all-time high of 123.7 in Apr 2017 and a record low of 85.6 in Apr 2023.

The State Bank of Pakistan provides Real Effective Exchange Rate Index with base 2010=100. CPI is used as a deflator. An increase in REER indicates reduced competitiveness for the reporting economy. Weights are calculated by the IMF on the basis of 2016-18 trade patterns in the global economy. Due to lack of historical data, the indicator cannot be recalculated with base 2005=100.


Related information about Pakistan Real Effective Exchange Rate

• In the latest reports, Pakistan Short Term Interest Rate: Month End: Pakistan: Interbank Rate: Karachi Average: 3 Months was reported at 22.9 % pa in Jun 2023.
• The cash rate (State Bank of Pakistan: Reverse Repo Rate) was set at 13.0 % pa in Jan 2025.
• Pakistan Exchange Rate against USD averaged 286.6 (USD/PKR) in Jun 2023.

After reaching the lowest recorded value in October 2020, the amount of Swiss francs that one British pound could buy gradually increased until early 2021. This similar was to 2019, when a decrease occurred before being almost fully recovered by the end of that year. As of March 25, 2025, the exchange rate reached approximately 1.14 Swiss frances per pound. The GBP/CHF currency pair was one of the most traded pairs on the global forex market in 2020.