Headline for .     Since the beginning of 2018, despite the Covid-19 pandemic, currencies around the world are generally down against the United States dollar.     
World Currency Observer
World Currency Observer

Exchange Rates: one year high and low

June 2, 2026. Next update: June 17, 2026. Visit Search to look at past issues of World Currency Observer (brochure edition).

Around the world, there has been upward pressures on prices (general rooted in oil price events over the last few months linked to the Strait of Hormuz), which are also putting upward pressure on worldwide interest rates, but countries are resisting, and there have also been a number of instances of significant foreign exchange market interventions in support of currency values. But, May finished with renewed optimism regarding reopening shipping in the Strait of Hormuz, with a sharp decline in oil prices in world markets, an optimism which was particularly reflected in the performance of Africa currencies, whose good news included the elimination of China tariffs on imports from Africa countries which were not already part of the exemption formerly available only to Africa less-developed countries. Another factor affecting world currencies, but possibly more Africa currencies, was the consequent unwinding of the safe-haven flight to the US$, which had weakened currencies around the world, such as those in Africa. One example: Nigeria, which also had stronger-than-expected first quarter 2026 economic growth, which was regarded as contributing to strength in the naira in May.

Looking around the world, starting with North America: after rising by 2.5% against the US dollar in April 2026, the Canada dollar fell by 1.25% in May 2026. The Mexico peso was up by 1% against the US$ in May, and is up by 10.5% against the US$ since this time last year. The Dominican Republic peso was up 1.75% in May 2026 after a 1.5% rise against the US$ in April, and is up 1% since this time last year. The Brazil real showed a net decline of 1.75% in its US$ value in May 2026, but other South America currencies generally strengthened against the US dollar over the month - the Argentina peso showed a 1% decline, with the dólar blue peso ending the month at around 1415. The Euro fell by 0.25% against the US$ in May 2026 (after moving up by 1.75% against the US dollar in April 2026) - the Euro is up by 2.75% against the US$ since this time last year. The United Kingdom pound showed a small upward movement against the US$ since this time last year (around a 3% decline against the Euro). The Hungary forint, in the wake of the April 2026 election of a new government, had risen by a very large 8% in April against the US dollar, and has risen by a further 2% in May 2026 (now up by 14% against the US$, and by 11% against the Euro, since this time last year). Currencies in former USSR countries were generally up against the US$ in May 2026 (including a 5.5% rise in the Russia rouble), with the major exception being a 4.5% decline in the US$ value of the Kazakhstan tenge (oil shipments to Germany from Kazakhstan through the Druzhba oil pipeline have been blocked by Russia, since May 1 2026.) Currencies in the Middle East were generally stronger against the US$ in May 2026, including a 1.5% rise in the Egypt pound (down 5% since this time last year), and a 4.75% rise in the Israel shekel (up 19.25% since this time last year). There was a great deal of upward-and-downward movement in the US$ value of Africa currencies in May but, as noted above, Africa currencies generally moved up in May or, at least, showed, at least, no net downward movement against the US$. Among these, the South Africa rand was up by 3% against the US$ in May 2026, and up by 10% since this time last year. The Japan yen showed an upward movement against the US$ in the first part of May 2026 (generally attributed to an intervention in the foreign exchange market by the Bank of Japan) – after this, the yen drifted downward for the rest of May, finishing the month down by 1.75% against the US$ in May, and down by 10.5% since this time last year. The South Korea won showed a movement pattern similar to the Japan yen, finishing May down by nearly 2% against the US$ (there are also reports of foreign exchange market intervention by the Bank of Korea). The Indonesia rupiah was down by 3.5% against the US$ in May, and down by 9.5% since this time last year. The New Zealand dollar is up by 1.75% on the month. The China yuan was up by 1% against the US$ in May 2026, and up by 6% against the US$ since this time last year. The Taiwan dollar is down by 4.5% against the US$ since this time last year. The India rupee finished the month of May with no net change against the US dollar, but it should be added there were indications of intervention in support of the rupee in the foreign exchange market, on May 6 and, especially, on May 20. A similar pattern was visible for the Sri Lanka rupee in May, but with a net downward movement of 2.75% in the US dollar value of the SL rupee. Oil prices in US dollars were down by 15% in May 2026, and gold prices were down by 2%. Coffee prices in US dollars were down by 11.75% on the month, and down 24% since this time last year. Cocoa prices are down by 45% since this time last year. Copper prices were up by 5% in May, and are up by 44% since this time last year.

(World Currency Observer will next be updated on June 17, 2026. Visit Search to look at past issues of World Currency Observer (brochure edition). For permission-to-quote enquiries, e-mail World Currency Observer at WCO@briargreen.com.)