Currency exchange rates: How did the dollar do in 2012?
The US dollar fell against most other currencies in 2012, with only the Indian rupee, the Brazilian real and the Japanese yen falling in value against the US dollar.
It has become an annual tradition here to summarize yearly exchange rate movements for some selected major currencies.Skip to next paragraph
Stefan is an economist currently working in Sweden.
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In 2012, the U.S. dollar fell against most other currencies, with only the Indian rupee, the Brazilian real and the Japanese yen falling in value against it. The yen's big drop was the by far most dramatic change, followed interestingly by the big increase for the South Korean won. Since Japan's and South Korea's economies are specialiced on very similar things, like electronics, ships, and cars, and because they therefore are direct competitors to each other, this will create some problems for South Korean companies.
It should however be noted that the won's big increase in value relative to the yen comes after several years of big drops, and compared to a few years ago, the won is despite the big rebound in 2012, significantly weaker compared to the yen.
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(The changes below are changes relative to the U.S. dollar)
South Korean won: +9%
Norwegian krone: +7.3%
Singapore dollar: +6%
New Zealand dollar: +5.9%
Swedish krona: +5.6%
British pound: +4.7%
Swiss franc: +2.4%
Canadian dollar: +2.1%
Australian dollar: +1.4%
Indian rupee: -3.4%
Brazilian real: -9%
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. This post originally ran on stefanmikarlsson.blogspot.com.
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