Against the Dollar
Currency value versus the US dollar, indexed to 2000 = 100, six major economies
- Unit
- Index, 2000 = 100
- Frequency
- Annual
- Coverage
- 2000–2025
- Evidence Quality
- High
Currencies against the dollar since 2000 — the real down to a third, the rupee and yen sliding, the yuan and euro holding.
World Bank WDI · Official exchange rate (LCU per US$) · PA.NUS.FCRF
Line chart, 2000 to 2025. Currency vs US$ (2000 = 100). 6 series: United States, China, India, Germany, Japan and Brazil. Brazil is highlighted; its latest reading is 32.7 in 2025. Marked: Fed hikes, dollar surges, 2022.
Indexed to 2000 = 100; a falling line means the currency weakened against the dollar.
Question
How have the world's currencies held up against the US dollar since 2000?
Evidence
Indexing each currency to its own value against the dollar in 2000 shows who held and who slid — a falling line means depreciation. The story is a long, strong dollar against the emerging world: Brazil's real lost roughly two-thirds of its dollar value, India's rupee about half, and Japan's yen slid sharply, especially after 2022. The exceptions are China's yuan and the euro, both modestly stronger than in 2000. The US line is flat at 100 — the dollar measured against itself.
Observation
Read level, slope and timing together.
This tracks the market (nominal) exchange rate, not what money buys at home — a currency can weaken against the dollar even as domestic prices are stable.
Assessment
- Brazil's real is the steepest fall — to roughly a third of its 2000 dollar value, a serial depreciation.
- The rupee roughly halved and the yen slid hard, deepening after the 2022 dollar surge.
- The yuan and the euro are the holdouts — modestly stronger against the dollar than in 2000.
Advantage
- Who lends and who borrows abroad?Creditors and Debtors
- What defends the currency?The War Chest
- What does depreciation do to prices?The Return of Inflation