Currency Shifts in 2025

The U.S. dollar is enduring its weakest year in more than two decades, down over 10% so far in 2025. Most major currencies have gained against it, underscoring how shifts in trade, policy, and investor sentiment are reshaping global FX markets.

How we measured it:

We tracked year-to-date (YTD) performance against the U.S. dollar, from Jan 1 to Sept 19, 2025. Each currency’s daily value is measured relative to its Jan 1 exchange rate. Positive values indicate appreciation, negative values depreciation.

What the numbers show:

• Strong gainers: Brazilian real (+15.4%), Swiss franc (+12.4%), euro (+11.9%), and Mexican peso (+11.6%) posted double-digit rises.
• Moderate gainers: Rand (+8.1%), pound (+7.1%), yen (+6.2%), and others added solid strength.
• Underperformers: The rupee (-2.7%), rupiah (-2.5%), and Turkish lira (-16.9%) weakened against the dollar.

Why it matters:

• Stronger currencies ease import costs, benefiting consumers and lowering inflation pressures.
• Weaker currencies can support exporters by making goods more competitive abroad but raise import bills — especially sensitive for energy-reliant economies.

Note: YTD performance is calculated against the U.S. dollar using daily exchange rates, with Jan 1, 2025 as base and Sept 19, 2025 as the latest value. Source: Market exchange rates via Google Finance, Jan 1–Sept 19, 2025. Viz. Aneesh Anand.