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Growth of Global Currency in Circulation

By Mike Hewitt (0 comments)

Year over year growth of global currencies in circulation was just under ten percent from June 2009 to June 2010. This essay investigates which currencies are contributing the most to this development. One hundred and thirty-five currencies from 131 sovereign nations and five monetary unions (including 36 more nations) have been examined.

Four currencies (EUR, USD, JPY and CNY) comprise nearly 75% of all circulating banknotes and coins within the public domain. The following pie chart shows the relative value of global currencies (M0) when converted to USD for means of comparison.

Growth of Currency in Circulation

The fastest growing currencies significantly contributing to the growth of global currency in circulation are as follows:

Rank	Currency	Code	2009 Y-O-Y Growth	2009 Y-O-Y Growth (USD Billion)
1	Euro	EUR	+6.3%	62.2
2	Chinese yuan renminbi	CNY	+11.8%	59.0
3	United States dollar	USD	+5.7%	46.7
4	Indian rupee	INR	+15.1%	20.0
5	Brazil real	BRL	+14.5%	6.7
6	British pound	GBP	+5.7%	4.9
7	Algerian dinar	DZD	+18.5%	4.1
8	Polish zloty	PLN	+8.8%	3.6
9	Vietnamese dong	VND	+23.8%	3.2
10	Turkish new lira	TRY	+16.9%	3.2
11	Mexico peso	MXN	+8.6%	3.2
12	Venezuelan bolivar fuerte	VEF	+31.1%	3.1
13	Hong Kong dollar	HKD	+14.0%	3.1
14	Thai baht	THB	+8.7%	2.5
15	Iranian rial	IRR	+20.0%	2.4
16	Taiwan dollar	TWD	+9.5%	2.4
17	Egyptian pound	EGP	+11.1%	2.3
18	Pakistan rupee	PKR	+15.4%	2.1
19	Indonesian rupiah	IDR	+7.8%	1.6
20	Israeli new shekel	ILS	+19.5%	1.5

The following graph shows the growth of M0 for currencies analysed in this essay from 1971.

Compiled official global money supply data for currency in circulation and other monetary measures are available at www.DollarDaze.org.

_____

© 2009 DollarDaze

ABOUT THE AUTHOR

Mike Hewitt is the editor of DollarDaze.org, a website pertaining to commentary on the instability of the global fiat monetary system and investment strategies on mining companies. His website also provides a no-cost market data feed service with up-to-date quotes on currency exchange rates, commodity prices and major indices. Mike can be emailed at mikehewitt@hotmail.com.

Disclaimer: The opinions expressed above are not intended to be taken as investment advice. It is to be taken as opinion only and I encourage you to complete your own due diligence when making an investment decision.

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