Thursday, January 01, 2009

Summary Of 2008 Currency Movements

This is a summary of the changes in exchange rates of various currencies versus the U.S. dollar. This summary doesn't tell the whole story of course as there were significant fluctuations within the year. Beneath the relatively small euro/dollar exchange rate movement (4.7%) for the year was a period of significant euro appreciation (8.9%) between December 31, 2007 and April 23, 2008, whereupon the exchange rate was relatively stable until July 15, when it closed marginally above that previous peak. After that, the euro fell some 21.3% until its November 20 low, after which it has gained 11.1%. Even so, the full year numbers are certainly of great relevance (Note, in cases where the exchange rate was expressed in the linked source in terms of the number of units of a currency it took to buy 1 USD (all currencies except the pound, the euro and the dollars of Australia and New Zealand) I inverted the numbers before making the calculations):

Yen: +23.0%
Yuan: +6.9%
Swiss franc: +6.1%
Singapore dollar:-0.1%
Euro: -4.7%
Swedish krona: -18.1%
Canadian dollar:-18.3%
Indian Rupee: -19.1%
Australian dollar: -20.4%
Norwegian krone:-22.1%
Brazilian real: -23.3%
New Zealand dollar:-24.3%
South Korean won: -25.8%
U.K. Pound:-26.3%


Blogger E. Floyd said...

Hi Stefan,

I have been following your blog for awhile now. And really enjoy reading your posts. Thank you for sharing your knowledge and know that it is appreciated.

Happy New Year and may 2009 bring you great happiness and prosperity!

2:53 AM  
Blogger stefankarlsson said...

Floyd: Thanks!

7:25 AM  
Blogger said...


At RGE Monitor there is also an entry on currencies. There a forecasting bit in it. Just wondered if you were willing to share your views.


3:15 PM  

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