USD/ZAR Historical Price Charts – US Dollar Price History

USD is an abbreviation for the United States dollar, the official currency of the United States of America. One United States dollar, or US dollar, is divided into 100 cents, or into 1,000 mills for accounting and taxation purposes (symbol: ₥). This currency is typically represented by the symbol $ or US$, in order to differentiate between it and other dollar-based currencies. It is also worth mentioning that the US dollar, often referred to as the greenback, is the most-used currency in activities worldwide. As a result, this currency is considered a benchmark currency. Apart from this, the US dollar is accepted as the official currency in many countries outside of the US.

On the ZAR front, the South African rand (ZAR) is the national currency of South Africa. It is made up of 100 cents and is represented with the symbol R. It is worth mentioning that the name, rand, comes from the word “Witwatersrand” which means “white waters ridge.” Johannesburg, the location of the majority of South Africa’s gold deposits, is situated on this ridge.

From a historical point of view, the South African rand was first launched in February 1961, just before the Republic of South Africa was established. The South African rand replaced the South African pound at a rate of 2 rands to 1 pound. Up until the early 1970s, the South African rand was worth around R 1.5 per USD. However, the rand devalued at a rapid rate during the Great Recession.

What is the USD/ZAR (US Dollar/ South African Rand)?

The USD/ZAR is an exotic pair in forex trading or currency trading, as the rand (ZAR) is an emerging market currency that carries less liquidity than developed market currencies. As we already mentioned, the USD/ZAR is an exotic currency pair, as it carries lower liquidity than most major currencies traded on the market, such as (the US dollar, Swiss franc, euro, British pound, Japanese yen, Canadian dollar and Australian dollar). However, the lower liquidity of the rand offers higher volatility, which offers higher opportunities for rewards (or losses).

Despite this, the South African economy is more developed than a number of its emerging market peers, so that in turn, its liquidity is considered higher than many of its counterparts, and more than sufficient for trading purposes.

Major Factors that Influence the USD/ZAR Currency Pair

The USD/ZAR currency pair is usually affected by factors that impact the values of the US dollar and the South African rand in relation to each other and to other currencies. Therefore, the interest rate differential between the South African Reserve Bank and the Federal Reserve (Fed) will significantly influence the value of these currencies, compared to one another. However, the traders keep an eye on the economic calendars, as high impact news significantly impacts the USD/ZAR currency pair.

When trading the USD/ZAR, traders focus on the high impact of both US and South African economic data points, as the currency pair reflects the two economies. Gross domestic product (GDP), consumer price inflation, trade/current account balance, and unemployment data are considered the key factors that impact the currency pair.

Current [[USD/ZAR-name]] Price: [[USD/ZAR-price]]

[[USD/ZAR-graph]]

Historical Data Tables:

USD/ZAR Historical Price Data

[[USD/ZAR-table-day]]

Monthly Change

[[USD/ZAR-table-month]]

As we already have mentioned, the USD/ZAR currency pair is normally affected by factors that impact the values of the US dollar and the South African (rand) in relation to one another and to other currencies. Therefore, the interest rate differential between the South African Reserve Bank and the Federal Reserve (Fed) will significantly influence the value of these currencies compared to each other. However, the traders keep an eye on the economic calendars, as high impact news significantly impacts the USD/ZAR currency.

Monetary Policy:

The currencies are most sensitive to monetary policy by central banks. However, the increasing interest rates in an economy tend to underpin the domestic currency. Likewise, lowering of interest rates are expected to undermine a currency.

Economic Data:

The economic data, such as the Consumer Price Index (CPI), Gross Domestic Product (GDP), Trade Balance, Retail Sales, Consumer Price Index and Industrial Price Index have a significant influence on the USD/ZAR prices. This data is essential if one is to understand the stock market and especially the direction of the ZAR.

Supply & Demand:

The Rand, as a currency, is most sensitive to SUPPLY AND DEMAND factors. If South African exports are popular and in high demand, it undermines the Rand as a currency. The strong trade industry is indicative of a well-performing currency. But if there’s plenty of supply and less demand, this can impact negatively on the South African currency (ZAR).

Political Situation:

If your country is in bad hands, or if it has a chaotic government, which makes terrible choices and constantly gets things wrong, this will eventually harm the currency. Failure of the government to effectively manage the country will spook businesses and trading partners, and discourage them from investing, and it can even result in tourists avoiding the country.

Availability Of Money:

The value of a currency can be defined by how many people are using it. If people and businesses worldwide increase their demand for a domestic currency, that will underpin the currency. Having a surplus of available currency has a negative effect, which undermines its value and impacts the exchange rate.

International Relationships:

Relations between countries tend to grow or undermine their economies. They increase the range of consumers reached geographically and demographically through interactions such as imports and exports, but they also allow the other country’s economic fluctuations to affect their economy.

USD/MXN Historical Price Charts – US Dollar Price History

The Mexican peso is the national currency of Mexico, which is also known by the code MXN. The Mexican peso is made up of 100 centavos, and it is usually represented with the symbol $ or Mex$. The word peso originates from the Mexican word ‘pesos’, which means ‘weights’ and refers to gold or silver weights.

From a historical view, originally, the peso was based on the official currency of Spain, the real, which was the Spanish dollar minted in silver. The Mexican name comes from the most common identification of the currency, the silver 8-real coin, which remained in circulation until the mid 19th century. In 1863, the first coins denominated in centavos, worth one-hundredth of a peso each, were produced. These coins remained in circulation until the mid-20th Century, but their gold content was reduced substantially over time.

What is the USD/MXN (US Dollar/ Mexican peso)?

The USD/MXN stands for the US dollar versus the Mexican peso (USD/MXN) currency pair, which tells how much the US dollar is worth when measured against the MXN. The USD/MXN is considered an exotic pair. However, the Mexican peso is one of the most heavily traded currencies among the currency pairs that include the US dollar. Mexico has and the emerging market’s currency. Apart from this, the USA and historically close relations as trade partners also tend to increase the worth of this currency.

It is also worth mentioning that the USD/MXN currency pair normally trades from Sunday evening to Friday afternoon in the United States, which offers useful opportunities for the traders. However, volume and volatility can fluctuate considerably in each 24-hour cycle, with spreads (the difference between bids and asks) widening during quiet periods and narrowing during active periods. Besides this, the ability to open and close positions at any moment could be considered as one the key benefits on the forex market; the majority of trading strategies unfold during active periods.

As we are all well aware, Mexico is the 9th-largest oil producer in the world. This, in turn, ties Mexico to its natural resources. However, the Mexican peso strongly correlates with other commodity-based currencies, including the Brazilian Real (BRL) and Colombian Peso (COP). This relationship strengthens the importance of energy fluctuations and data that move crude oil and natural gas futures markets.

Major Factors that Influence the USD/MXN Currency Pair

The value of the USD/MXN currency pair is mainly affected by geopolitical and global sentiment, like many emerging market currencies. Usually, when global volatility is low, the peso appreciates, as seen in the years after the Great Slowdown. Let me remind you that the slew of accommodative central bank policy initiatives saw volatility fall, and the peso’s value slowly climbed. After the crisis, the value of the Mexican Peso increased by as much as 30 percent against the greenback. On the contrary, the value of the peso also dropped by 20 percent in three months, mainly due to the election of President Donald Trump, which boosted the volatility and contributed to the currency’s losses.

Current [[USD/MXN-name]] Price: [[USD/MXN-price]]

[[USD/MXN-graph]]

Historical Data Tables:

USD/MXN Historical Price Data

[[USD/MXN-table-day]]

Monthly Change

[[USD/MXN-table-month]]

Higher Interest Rates:

The higher interest rate could be considered one of the key factors impacting the Mexican Peso. It should be noted that the peso was paying approximately 8% in interest per year in 2019, compared to around 2% for the US dollar. This, in turn, undermined the value of the Mexican currency. For many years, the Mexican peso produced higher returns than the US dollar, because of higher interest rates.

Proximity to the United States:

Mexico and the United States share a border, and a relationship that extends to broad trade agreements and immigration disputes. However, the physical closeness tends to have an extra impact on the value of the peso. Highly prosperous border regions engaging in commercial interactions increase the liquidity of the Mexican Peso.

It is worth recalling that the USD/MXN currency pair offers a natural currency play in the market, and it is also the most liquid MXN pair, as we have already mentioned. Apart from this, the United States exported $ 256 billion in goods to Mexico in 2019, while importing goods to the value of $ 358 billion, eventually adding meaningful liquidity to the currency. This balance of trade (BOT) showed some fluctuation in the last decade, and the shifting ratio had an impact on the relative value.

Crude Oil:

WTI Crude Oil prices could also be considered one of the major factors affecting the Mexican peso, as Mexico’s vast oil reserves provide collateral for financing. The capital from borrowing allows the government to obtain funds for domestic spending programs. However, international lenders prefer to invest and assume risks in petroleum-dominated countries when crude oil prices are high. The relationships between the Mexican Peso and oil also make it an excellent way to speculate on oil prices.

Let me remind you that, as a nonmember oil producer, Mexico has been hard hit by an OPEC supply buildup. This has added to the pressure generated by the decline in oil prices after 2013. The dramatic fall in oil prices in early 2020 undermined the value of the peso.

Economic Data:

Economic data, such as the Consumer Price Index (CPI), Gross Domestic Product (GDP), Trade Balance, Retail Sales, Labour Force Survey (the Canadian unemployment statistics), Consumer Price Index and Industrial Price Index have a great influence on USD/MXN prices. This data is important for one to understand the stock market, and especially the direction of the MXN.

EUR/CHF Historical Price Charts – Euro Price History

The EUR is the official currency for 19 of the 28 member countries of the European Union (EU), including Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Cyprus, Estonia, Latvia, Lithuania, Malta, Slovakia, and Slovenia. The EUR is also known as the euro currency, the second most traded currency globally, after the US dollar. The name “euro” was adopted in 1995, after heavy negotiations; the currency replaced the former European Currency Unit (ECU). However, the euro was initially introduced in virtual form on January 1, 1999, and it began circulating physically in 2002. It is also worth mentioning that the euro coins in general use are the 1, 2, 5, 10, 20, and 50 cent coins, as well as the 1 and 2 euro coins, and the most frequently used euro banknote denominations are the 5, 10, 20, 50 and 100 euro notes.

The CHF is the abbreviation for the Swiss Franc, which is Switzerland’s official currency. CHF stands for Confoederatio Helvetica Franc, whereby Confoederatio Helvetica is the Latin name for the Swiss Confederation. This is the only Franc still issued in European countries. The CHF is subdivided into 100 centimes. The Swiss Franc is also known as Swisse by currency market traders, and it is the seventh most traded currency in the world.

What is the EUR/CHF (Euro/Swiss Franc)?

The EUR/CHF stands for the Euro versus the Swiss Franc (EUR/CHF) currency pair, which shows how much the EUR (base currency) is worth measured against the CHF (counter currency). For example, EUR/CHF = 1.07 indicates that one Euro can buy 1.07 Swiss Franc.

The correlation between the EUR and the Swiss Franc currency pairs cannot be ignored. Thus, the correlation between the two currency pairs, EUR/USD (Euro/US Dollar) and USD/CHF (US Dollar/Swiss Franc), is defined as upwards of negative 95%. This represents an opposite relationship, which means that when the EUR/USD rallies, the USD/CHF usually sells off and vice versa.

Major Factors that Influence the EUR/CHF Currency Pair

The value of the EUR/CHF currency pair is mainly affected by geopolitical and global sentiment, like many emerging market currencies. Apart from this, one factor that affects the value of the Swiss Franc could also be the Economic data releases, such as GDP data; across the pond, the worldwide demand for Switzerland’s banking services as a secure and confidential place to hold offshore funds could also be considered as one of the key factors that affect the value of the Swiss Franc.

Current [[EUR/CHF-name]] Price: [[EUR/CHF-price]]

[[EUR/CHF-graph]]

Historical Data Tables:

EUR/CHF Historical Price Data

[[EUR/CHF-table-day]]

Monthly Change

[[EUR/CHF-table-month]]

Factors impacting EUR/CHF Prices:

As mentioned above, the value of the EUR/CHF currency pair is primarily affected by geopolitical and global sentiment, like many emerging market currencies. Apart from this, one factor that affects the value of the Swiss Franc could also be the Economic data releases such as GDP data; across the pond, the worldwide demand for Switzerland’s banking services as a secure and confidential place to hold offshore funds could also be considered as one of the key factors that affect the value of the Swiss Franc.

Economic data releases: These include GDP data, information about industrial production and retail sales, inflation rates and trade balances. Other important details deserving of attention include employment figures, scheduled SNB meetings, and any daily reports regarding natural disasters, the political climate or any new government policy. All of these factors tend to affect the exchange rate of the Swiss Franc.

Interest Rates:

Higher interest rates in an economy tend to draw foreign investment, increasing the demand and value of the home currency. Likewise, lower interest rates tend to undermine exchange rates. By raising interest rates, the central bank can lower the demand for goods, leading to pressure on prices.

Safe-Haven Demand:

The Swiss Franc’s demand as a safe-haven considerably improves its value in the global foreign exchange markets. The demand for the currency as a safe-haven rose in the years after the 2008 financial crisis. The Swiss National Bank (SNB) had amassed approximately a half-trillion dollars in foreign currencies by 2011, which is equal to around 70% of Switzerland’s GDP.

Swiss banking services:

One factor that affects the value of the Swiss Franc could also be the worldwide demand for Switzerland’s banking services as a secure and confidential place to hold offshore funds. It is worth mentioning that the Swiss Franc could also be considered a firm alternative to the US Dollar or the Pound Sterling in times of turbulence and uncertainty, as whenever other economies show signs of deterioration, the Swiss Franc grows in popularity with speculators and traders.

AUD/INR Historical Price Charts – Australian Dollar Price History

The base currency (AUD) stands for the Australian dollar, which is also known as the Aussie dollar or the Aussie. The AUD replaced the Australian pound in 1966. In 2016, the currency had been in circulation for 50 years. However, the Australian dollar is the official currency in Australia and several independent countries and regions in the South Pacific, such as Papua New Guinea, Christmas Island, Cocos Islands, Nauru, Tuvalu, and Norfolk Island.

The Australian dollar was authorized as the free-floating currency in 1983. However, the reason for its popularity among traders could be associated with several factors related to geology, geography, and government policy. It is also worth mentioning that Australia is one of the world’s richest countries in terms of natural resources, including metals, coal, diamonds, meat, and wool.

On the other hand, the Indian rupee (quote currency) is India’s national currency, which is also known as the INR currency. However, the INR is usually represented with the symbol ₹. The Indian rupee (INR) derives its name from the rupiya, a silver coin first issued by Sultan Sher Shah Suri in the 16th century. For the time being, the issuance of the currency is controlled by the Reserve Bank of India. Managing currency in India could be considered as one of the most important tasks of the Reserve Bank of India. Moreover, India’s reserve bank also plays an important part in the Development Strategy of the Government of India, issues statements, and decides on the interest rates of the country.

From the historical view, the new rupee sign (₹) was officially approved in 2010. D. Udaya Kumar invented it, and it was derived from the combination of the Devanagari consonant “र” (ra) and the Latin capital letter “R” without its vertical bar (similar to the R rotunda). The first series of coins with the new rupee sign began on 8 July 2011. Before that, India used “₨” and “Re” as the symbols for multiple rupees and one rupee.

While talking about the coins, let me remind you that India’s coins are issued in denominations of 50 paise, one rupee, two rupees, five rupees, and ten rupees. Hence, the paise is 1/100th of a rupee. Coins worth 50 paise are called small coins, while coins equal or above one rupee are known as rupee coins.

At the Banknotes front, the paper currency or banknotes in India are issued in denominations of 5, 10, 20, 50, 100, 500, and 2,000 rupees. It is worth mentioning that the denominations are printed in 15 languages on the reverse side of paper rupees. On the front side, the denominations are printed in Hindi and English.

Normally, India’s banknotes are updated with new designs, including distinct differences from the old Mahatma Gandhi Series of banknotes to the new ones of the same name. The notes show various themes of India’s rich culture.

What is AUD/INR (Australian Dollar/ Indian Rupee)?

One currency is always quoted against the other as the currencies are traded in pairs. Thus, the AUD/INR currency pair represents the Australian dollar trading versus the Indian rupee. In this case, the first currency (AUD) is the base, and the second (INR) is the quote currency.

Major Factors that Influence the AUD/INR Currency Pair

The AUD/INR currency pair value is mainly affected by geopolitical and global Sentiment, like many emerging market currencies. As the foreign players have been withdrawing from the Indian equity market, which contributed to the fall of the Indian rupee. Across the pond, the INR currency has a strong correlation with the crude oil prices as WTI crude accounts for a significant portion of India’s overall imports. Thus, the rise in the price of crude oil hurts the economy. If WTI crude oil prices rise further, it will not only impact the rupee’s stability and the rise in stock markets but may also produce an inflationary effect.

The Australian Dollar(AUD) currency value is mainly affected by several factors such as Interest rate differentials, Commodity prices, Purchasing power parity, Government credit ratings, and Sentiment and speculation.

Current [[AUD/INR-name]] Price: [[AUD/INR-price]]

[[AUD/INR-graph]]

Historical Data Table:

AUD/INR Historical Price Data

[[AUD/INR-table-day]]

Monthly Change

[[AUD/INR-table-month]]

Factors impacting AUD/INR Prices:

The value of an INR currency depends on key factors that influence the economy such as imports and exports, employment, inflation, interest rates, trade deficit, growth rate, the performance of equity markets, foreign exchange reserves, foreign investment inflows, macroeconomic policies, banking capital, commodity prices, and geopolitical conditions.

It is worth mentioning that the Income levels broadly influence INR currencies through consumer spending. When incomes rise, people spend more. However, the higher demand for imported goods tends to increase the demand for foreign currencies and, thus, undermine the local currency.

Interest Rates:

As we already mentioned, the higher interest rates in an economy tend to draw foreign investment, increasing the demand and value of the home currency. Likewise, lower interest rates tend to undermine exchange rates. By raising interest rates, the central bank can lower the demand for such goods, leading to pressure on prices.

Likewise, the RBI controls the Indian rupee’s value with different tools, including controlling its supply in the market and, thus, making it cheap or expensive.

Let me discuss some ways through which the RBI controls the movement of the Indian rupee, the first one would be (change in interest rates), and then relaxation or tightening of rules for fund flows, tweaking the cash reserve ratio (the proportion of money banks have to keep with the central bank) and selling or buying dollars in the open market,” says Brahmbhatt of Alpari.

Across the pond, one of the major drivers behind changes in the AUD’s value is the interest rate differential. The interest rate differential is the relative benefit an investor receives from investing in one country’s assets over the other. If interest rates in Australia are 1.50%, but are higher in the US at 2.40%, then an investor will get a high return by buying US assets. But this method tends to undermine the value of the AUD, as investors sell AUDs and purchase US dollars to invest in US assets.

Crude Oil:

The WTI Crude oil prices could also be considered one of the major factors affecting the Indian rupee (INR) currency prices as crude accounts for a significant portion of India’s overall imports. Thus, the rise in the price of crude oil hurts the economy. If WTI crude oil prices rise further, it will not only impact the rupee’s stability and the rise in stock markets but may also produce an inflationary effect.

Economic Data:

The economic data such as Consumer Price Index (CPI), Gross Domestic Product (GDP), Trade Balance, Retail Sales, Labour Force Survey Consumer Price Index, and Industrial Price Index have a great influence on USD/INR prices. These data are important to understand the stock market and especially the direction of the INR.

FOREX DEMAND:

The international trade and movement of people is growing sharply, no currency is acceptable all over the world. Whether you go for higher studies to the United States or fly to Rio for a holiday, you will have to pay for services and goods in their currency. Besides, you have to pay in foreign exchange while doing online shopping from international stores.

Thus, the foreign exchange rate for converting currencies depends on the market scenario and the exchange rate being followed by the country’s banks. Floating exchange rates, or flexible exchange rates, are determined by market forces without central governments’ active intervention. For example, due to heavy imports, the rupee’s supply may go up, and its value falls. On the contrary, when exports rise and dollar inflows are high, the rupee ten to underpin.

Sentiment and speculation:

The Australian dollar is considered one of the most popular growth and risk proxy in global financial markets, usually used as a barometer, and trading device, to benefit from short-term changes in sentiment towards global economic growth market risk. Therefore, when there is a bullish bias in the market, the Australian dollar will often climb, conversely if there is a prevailing pessimism, the AUD will often drop.

USD/INR Historical Price Charts – US Dollar Price History

The Indian rupee is the national currency of India, which is also referred to as INR. However, the INR is usually represented with the symbol ₹. The Indian rupee (INR) derives its name from the rupiya, a silver coin first issued by Sultan Sher Shah Suri in the 16th Century. For the time being, the issuance of the currency is controlled by the Reserve Bank of India. Managing currency in India could be considered as one of the most important tasks of the Reserve Bank of India. Moreover, India’s reserve bank also plays an important part in the Development Strategy of the Government of India, issues statements, and decides on the interest rates of the country.

From a historical point of view, the new rupee sign (₹) was officially approved in 2010. D. Udaya Kumar created it, by combining the Devanagari consonant “र” (ra) and the Latin capital letter “R”, without its vertical bar (similar to the R rotunda). The first series of coins with the new rupee sign were issued on July 8, 2011. Before that, India used “₨” and “Re” as the symbols for multiple rupees and one rupee.

While talking about the coins, let me remind you that India’s coins are issued in denominations of 50 paise, one rupee, two rupees, five rupees and ten rupees.
Therefore, the paise is worth 1/100th of a rupee. Coins worth 50 paise are referred to as small coins, while coins equal to or above one rupee are known as rupee coins.

In terms of banknotes, the paper currency or banknotes in India are issued in denominations of 5, 10, 20, 50, 100, 500 and 2,000 rupees. It is worth mentioning that the denominations are printed in 15 languages on the reverse side of paper rupees. On the front, the denominations are printed in Hindi and English.

Typically, India’s banknotes are updated with new designs, including distinct differences between the old Mahatma Gandhi Series of banknotes and the new ones of the same name. The notes show various themes from India’s rich culture.

What is the USD/INR (US Dollar/ Indian Rupee)?

The USD/INR stands for the US dollar versus the Indian Rupee (USD/INR) currency pair, which tells the trader how many Indian Rupees (the quote currency) are needed to purchase one US dollar (the base currency). For example, if the market price of the USD/INR is 716, then around ₹71 is required to purchase 1 dollar. As already mentioned, the Rupee is symbolized by ₹. It is interesting to note that the INR is the 20th most traded currency worldwide.

It is also worth mentioning that the USD/INR currency pair normally trades from Sunday evening to Friday afternoon in many countries, offering useful opportunities for the traders. However, you can trade calls and put options on the pair. There is no delivery of the dollar, and the difference in exchange is done in INR. The nature of trading is European style. The option can be exercised upon expiry or squared off during the month. If the US dollar gains strength against the Rupee on or before expiry, then the buyer of the call option gains. A buyer of the put option gains on a weaker dollar and loses on a stronger US dollar.

Major Factors that Influence the USD/INR Currency Pair

The value of the USD/INR currency pair is mainly affected by geopolitical and global sentiment, like many emerging market currencies, as the foreign players have been withdrawing from the Indian equity market, which has contributed to the fall of the Indian rupee. The prevailing US-China trade situation seems to be having a domino effect on global trade, which has been affecting the Indian currency since Sep 5, 2019.

Across the pond, the INR has a strong correlation with the crude oil prices, as WTI Crude accounts for a significant portion of India’s overall imports. Thus, any rise in the price of crude oil hurts the economy. If WTI Crude Oil prices rise further, it will not only impact the stability of the rupee and the rise in stock markets. It could also produce an inflationary effect.

Current [[USD/INR-name]] Price: [[USD/INR-price]]

[[USD/INR-graph]]

Historical Data Table:

USD/INR Historical Price Data

[[USD/INR-table-day]]

Monthly Change

[[USD/INR-table-month]]

Factors impacting the USD/INR Prices:

Many factors can impact the INR currency exchange rate, including trade flows, investment flows, and oil prices. India imports oil, and a rise in prices can cause inflation and force the RBI to intervene, in order to support the economy.

Interest Rates:

As we have already mentioned, higher interest rates in an economy tend to draw foreign investment, increasing the demand and value of the home currency. Likewise, lower interest rates tend to undermine exchange rates. By raising interest rates, the central bank can lower the demand for such goods, putting pressure on prices as a result.

Crude Oil:

WTI Crude Oil prices could also be considered one of the major factors affecting the prices of the Indian rupee (INR), as crude accounts for a significant portion of India’s overall imports. Thus, the rise in the price of crude oil hurts the economy. If WTI Crude Oil prices rise further, it will not only impact the rupee’s stability and the rise in stock markets, but it may also produce an inflationary effect

Economic Data:

The economic data, such as the Consumer Price Index (CPI), Gross Domestic Product (GDP), Trade Balance, Retail Sales, Consumer Price Index and Industrial Price Index have a great influence on USD/INR prices. This data is important if one is to understand the stock market, and especially the direction of the INR.

USD/TRY Historical Price Charts – US Dollar Price History

TRY stands for the Turkish currency, the new lira, which is now in its 2nd issue period. The Turkish lira is the national currency of Turkey. However, the new Turkish lira can be broken down into 100 new kurus coins, usually represented by the letters YTL. From a historical aspect, the Turkish new lira was first introduced in early 2005. It was equivalent to 1 million of the old Turkish lira. The government removed the six zeros from the value of the currency during revaluation in 2005. The 9th issue of the TRY was printed in 2009.

Let me explain the history of how the release of the Turkish lira as a currency was split into two periods. The first Turkish lira was in use during the period between 1923 and 2005 (it remained valid and in circulation until the end of 2005). At the same time, the 2nd Turkish lira period began in 2005. As a currency, the TRY has been pegged to the French franc and the British pound, as well as being both hard and soft-pegged to the US dollar, during its history. There is no longer an explicit peg, but Turkey actively intervenes in the currency markets and attempts to influence the value of the TRY.

History of the TRY (New Turkish Lira)

In response to the economic crisis in 2001, the Turkish lira started to lose value. State-owned businesses, such as telecommunications companies and oil refineries, were privatized, and the central bank ran a tight monetary policy, in an attempt to restrict spending and ensure that inflation did not destroy economic gains. Before these economic reforms took place, Turkey’s economy depended heavily on foreign aid, as approximately 80% of Turkey’s GDP was external debt.

Major Factors that Influence the USD/TRY Currency Pair

The USD/TRY currency pair is usually affected by factors that impact the value of the US dollar and the Turkish lira, in relation to each other and to other currencies. Therefore, the interest rate differential between the Central Bank of the Republic of Turkey and the Federal Reserve (Fed) has a significant influence on the value of these currencies compared to one another. It is worth recalling that the Turkish lira dropped by more than 20%, falling into record low territory, against the US dollar on August 10, 2018. However, the reason for this could be associated with economic and geopolitical problems. In addition to suffering from rapidly rising inflation and political pressure to keep interest rates low, the country faced a looming debt crisis that threatened to place further pressure on both the economy and the currency.

Current [[USD/TRY-name]] Price: [[USD/TRY-price]]

[[USD/TRY-graph]]

Historical Data Table:

USD/TRY Historical Price Data

[[USD/TRY-table-day]]

Monthly Change

[[USD/TRY-table-month]]

Factors impacting the USD/TRY Prices:

The USD/TRY currency pair is affected by factors that determine the value of the US dollar and the Turkish Lira, compared to one another and to other currencies. Therefore, the interest rate differential between the Federal Reserve (Fed) and the Central Bank of the Republic of Turkey will affect the value of currencies compared to each other.

The CBRT and Interest Rates:

Determining the interest rate could be considered one of the CBRT’s most important tasks. Turkish monetary policy structure is designed to keep inflation low and stable. Thus, the artificially low-interest-rate environment has contributed to additional ongoing pressures on the Turkish Lira.

US-Turkey Relations:

The relationship between the United States and Turkey has been getting worse over recent years, which tends to undermine the Turkish economy and its currency.

Economic Data:

The economic data, such as the Consumer Price Index (CPI), Gross Domestic Product (GDP), Trade Balance, Retail Sales, Labour Force Survey (the Canadian unemployment statistic), and Industrial Price Index have a great influence on USD/TRY prices.

Potential Turkish Debt Crisis:

Turkey’s heavy burden of debt to other countries is evident in the extraordinarily large percentage of its debt that is denominated in foreign currencies. As the Turkish currency continues to undermine, this foreign debt becomes more difficult and expensive for Turkey to manage, further exacerbating the decline in the currency. Furthermore, Turkey’s remarkably large current account deficiency makes the country’s potential to fall into a severe debt crisis even higher. Let me point out that the Turkish loans amount to $ 265 billion, or less than 1% of the worldwide total, as per the Bank of International Settlements.

International Relationships:

Relations between countries tend to grow or undermine their economies. They increase the range of consumers reached geographically and demographically, through interactions such as imports and exports, but they also allow the economic fluctuations of other countries to affect their economy.

USD/CAD Historical Price Charts – US Dollar Price History

The Canadian dollar (CAD) is the national currency of Canada. The Canadian dollar is made up of 100 cents, which is usually presented with a “C$”, to allow it to be similarity from other currencies dollars, denominated in such as the U.S. dollar (USD) or Australian dollar (AUD). CAD is considered a strong currency, which shows that the country is economically politically stable. Once the monetary period of the late 2000s, the ‘commodity’ Canadian dollar (CAD) has become one of the most popular reserve currency controls by foreign central banks.

From the historical view, the Canadian dollar reserve currency has been in use since 1858. This came after the Province of Canada replaced the Canadian Pound with its first official Canadian coins. Afterward, the federal government declared the Uniform Currency Act in 1871, which replaced many different regions’ currencies with one general Canadian dollar.

What is USD/CAD (U.S. Dollar/Canadian Dollar)?

The USD/CAD stands for the U.S. dollar versus the Canadian dollar (USD/CAD) currency pair, which tells the reader how many Canadian dollars are required to purchase one U.S. dollar. The USD/AD currency pair trading also knows as the “loonie,” which is the nickname for the Canadian one-dollar coin. The value of the USD/CAD pair is quoted as 1 U.S. dollar per X Canadian dollars. For example, if the pair is trading at 1.20, it takes 1.2 Canadian dollars (the quote currency) to purchase 1 U.S. dollar (the base currency.

Major Factors that Influence the USD/CAD Currency Pair

The USD/CAD currency pair is usually affected by factors that impact the value of the U.S. dollar and the Canadian dollar concerning each other and other currencies. Therefore, the interest rate differential between the Bank of Canada (BoC) and Federal Reserve (Fed) will significantly influence these currencies’ value compared to each other. Apart from this, the Canadian dollar price is also highly correlated with the price of commodities, mainly WTI crude oil. The Canadian economy is heavily dependent on oil; the oil price manages the health of the economy and the currency itself. Thus, the Canadian dollar is often identified as a commodity currency.

Current [[USD/CAD-name]] Price: [[USD/CAD-price]]

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Historical Data Table:

USD/CAD Historical Price Data

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Monthly Change

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Factors impacting USD/CAD Prices:

As we already mentioned that the USD/CAD currency pair is affected by factors that determine the value of the U.S. dollar and/or the Canadian dollar to each other and other currencies. Hence, the interest rate differential between the Federal Reserve (Fed) and the Bank of Canada (BoC), will affect the value of these currencies when compared to each other.

The BOC and Interest Rates:

Introducing the interest rate could be considered as one of BOC’s most important tasks. Canada’s monetary policy structure is designed to keep inflation low and stable. Thus, the interest rate is determined 8-times a year. However, Canada’s higher interest rates tend to increase foreign investors’ demand for Canadian dollar-denominated securities. Hence, the rate of return of foreign investors is dependent on the anticipated future performance of the Canadian dollar. If foreign investors expect a drop in the Canadian dollar value, they demand a higher interest rate on Canadian dollar securities.

Commodity prices:

The value of the Canadian dollar is correlated to the strength of world commodity prices, especially oil. Commodities represent a larger share of exports in Canada compared to several other countries like the United States. However, the Canadian economy is heavily dependent on oil prices; the oil price manages the economy’s health and the currency itself. As in result, the Canadian dollar is usually identified as a commodity currency. Whenever the commodity prices increase, Canada’s trade terms tend to improve because its assets have become more valuable.

Inflation Rates:

Inflation is the rate at which general price levels rise over time. However, if Canada’s inflation rate were to exceed foreign inflation rates, this would decrease the Canadian dollar’s purchasing power relative to foreign currencies. On the contrary, Canada’s low inflation rate has a positive impact on the exchange rate, which tends to underpin the local currency.

Economic Data:

The economic data such as Consumer Price Index (CPI), Gross Domestic Product (GDP), Trade Balance, Retail Sales, Labour Force Survey (the Canadian unemployment statistic), Consumer Price Index, and Industrial Price Index have a great influence on USD/CAD prices. These data are important to understand the stock market and especially the direction of the CAD.

Geopolitical Events:

Canadian residents choose a prime minister every 4 to 5 years, creating political struggles between citizens and parties. The Trans-Pacific Partnership (TPP) would impose tariffs, foster trade to boost growth, and deepen economic relations. As per the Worldwide Governance Indicators (WGI), Canada ranks highly for its political stability and government effectiveness, which helps maintain stability in the economy and makes trading more efficient. This, in turn, underpins the local currency.

Political Conditions:

In 1988 Canada approved the Free Trade Agreements with many other nations, which led to foreign trade is the foundation of Canada’s economy. However, Canada imports and exports with many countries, but the United States is still its largest trading partner. Canada and the United States have a closely-knit nation, and they rise or fail together. Apart from this, Canada ranks highly in the percentile of the absence of violence and terrorism. At the same time, the Canadian national debt is over a trillion dollars.

International Relationships:

Productivity:

The amount of production that can be produced with a given level of inputs can be a factor in determining the exchange rate through its effect on relative prices and international competitiveness. For example, if Canada’s productivity were to grow quicker than in the U.S., the prices of Canadian goods would become more competitive and, with time, Canadian output and exports would increase, which tends to underpin the demand for Canadian dollars.

GBP/INR Historical Price Charts – British Pound Price History

While talking about the coins, let me remind you that India’s coins are issued in denominations of 50 paise, one rupee, two rupees, five rupees and ten rupees.

Therefore, the paise is worth 1/100th of a rupee. Coins worth 50 paise are referred to as small coins, while coins equal to or above one rupee are known as rupee coins.

What is the GBP/INR (British Pound/ Indian Rupee)?

One currency is always quoted against the other, as the currencies are traded in pairs. Thus, the GBP/INR currency pair represents the Pound sterling trading versus the Indian rupee. In this case, the first currency (GBP) is the base, and the second (INR) is the quote currency.

Major Factors that Influence the GBP/INR Currency Pair

The value of the GBP /INR currency pair is mainly affected by geopolitical and global sentiment, like many emerging market currencies, as the foreign players have been withdrawing from the Indian equity market, which has contributed to the fall of the Indian rupee. The prevailing US-China trade situation seems to be having a domino effect on global trade, which has been affecting the Indian currency since Sep 5, 2019.

GBP/INR – Historical Price Charts and Data

GBP/INR – Historical Price Charts:

Current [[GBP/INR-name]] Price: [[GBP/INR-price]]

[[GBP/INR-graph]]

Historical Data Tables:

GBP/INR Historical Price Data

[[GBP/INR-table-day]]

Monthly Change

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Factors impacting the GBP/INR Prices:

The value of an INR currency pair depends on key factors that influence the economy, such as imports and exports, employment, inflation, interest rates, trade deficit, growth rate, the performance of equity markets, foreign exchange reserves, foreign investment inflows, macroeconomic policies, banking capital, commodity prices and geopolitical conditions.

It is worth mentioning that the Income levels broadly influence the INR, through consumer spending. When incomes rise, people spend more. However, the higher demand for imported goods tends to increase the demand for foreign currencies thereby undermining the local currency.

Interest Rates:

“Higher interest rates in an economy tend to draw foreign investment, increasing the demand for and the value of the local currency . Likewise, lower interest rates tend to undermine exchange rates. By raising interest rates, the central bank can lower the demand for such goods, leading to pressure on prices.

Likewise, the RBI controls the value of the Indian rupee with different tools, including controlling its supply in the market, thereby making it cheaper or more expensive.

Let me discuss some ways by which the RBI controls the movement of the Indian rupee. The first one would be by changing interest rates, or alternatively, relaxation or tightening of rules for fund flows, tweaking the cash reserve ratio (the proportion of money banks have to keep at the central bank) and selling or buying dollars in the open market,” says Brahmbhatt of Alpari.

Crude Oil:

Economic Data:

FOREX DEMAND

As we all know, international trade and the movement of people are increasing sharply, and no currency is accepted all over the world. Whether you go to the United States for further studies or fly to Rio for a holiday, you will have to pay for services and goods in their currency. And besides this, you have to pay in foreign exchange when shopping online from international stores.

Thus, the foreign exchange rate for converting currencies depends on the market scenario and the exchange rate being followed by the banks of the countries concerned. Floating exchange rates, or flexible exchange rates, are determined by market forces, without any active intervention by central governments. For example, due to heavy imports, the supply of the rupee may go up, and its value would fall as a result. On the contrary, when exports rise and dollar inflows are high, this tends to underpin the rupee.

USD/JPY Historical Price Charts – US Dollar Price History

The Japanese Yen is the fourth reserve currency after the US dollar, the euro and the British pound. The yen is the third most traded currency in the world. In 1871, the Meji government adopted the yen as a currency for the first time. The value of the Japanese yen has grown considerably since its inception, due to the strong Japanese industrial complex. Agricultural innovation, technological developments and the wide range of exportable products have helped the Japanese yen to become the third most traded currency globally. Ever since the USD/JPY pair started trading in the financial market, its prices have declined continuously throughout history. In the 1970s, the prices started at a level above 350, and now the pair is trading at 105.5.

Current [[USD/JPY-name]] Price: [[USD/JPY-price]]

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USD/JPY Historical Price Data

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Monthly Change

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Factors that impact the USD/JPY pair:
Ministry of Finance:
The only political and monetary institution in Japan is the ministry of finance. It exerts more influence on the currency than the ministries of finance of the UK, the United States and Germany do. The officials of the MoF issue economic statements that often have an impact on the Japanese Yen.

Bank of Japan:
The Central Bank of Japan got operational independence from its government in 1998. The complete control of monetary policy was shifted to the Bank of Japan, and the responsibility for foreign exchange policy remained with the Ministry of Finance.

Overnight Call Rate:
The key short-term inter-bank rate is the Overnight Call Rate, which is controlled by the Bank of Japan’s open market operations, whose task is to manage the liquidity. The call rate is used to signal monetary policy changes by the BoJ, that will impact the local currency, the Japanese yen.

Federal Reserve:
In order to achieve maximum non-inflationary growth, the US central bank has full independence when it comes to setting the monetary policy. The Fed Funds Rate, Discount

Rate, and Open Market Operations are used as signals from the Federal Reserve, that greatly impact the US dollar.

Federal Open Market Committee:
The US monetary policy decisions are taken by the FOMC, which includes the crucial interest rate announcements. These are made twice in every quarter of the year, or in other words, a total of eight times per year. These announcements hold much importance in the financial market, as they greatly impact the movement of the US dollar.

Fed Funds Rate:
The most important interest rate in the US Federal Reserve is the Fed Funds Rate, which depository institutions charge one another for overnight loans. The changes in the Fed Funds rate by the US Federal Reserve are announced at times when the Fed wishes to send out clear signals about the monetary policy. These announcements hold great importance in overall currency markets, stocks and bonds.

Economic Data:
From the US side, the most important data that influences the USD/JPY prices includes the Unemployment Rate, Unemployment Claims, Average Hourly Earnings, CPI, PPI, GDP, PMI, Industrial Production, Housing Starts, Housing Permits, and Consumer Confidence. From the Japanese side, the following data reports have a great influence on the USD/JPY currency pair: the GDP, the Tankan Survey, International Trade, the Unemployment Rate and Industrial Production.

Stock Market:
The USD/JPY pair is considered the riskier asset; therefore, the safe-haven Japanese yen has a negative correlation with the USD/JPY pair. The rise in uncertainty in the market increases the safe-haven appeal that supports the Japanese yen, which ultimately weighs on the USD/JPY pair. The stock markets are positively correlated with the market’s risk sentiment, and the USD/JPY is also positively correlated with the risk sentiment. The three major stock indices are the Dow Jones Industrial Average, the NASDAQ, and the S&P 500 Futures. The rise in these stocks has a positive impact on the USD/JPY pair and vice versa.

NZD/USD Historical Price Charts – NZ Dollar Price History

The New Zealand Dollar to US dollar exchange rate represents the exchange rate of this commodity pair. In commodity pairing, it is also known as the “kiwi” – it was named after the well-known flightless bird that is endemic to New Zealand. The currency pair is related to agricultural commodities, especially dairy products. The relationship between agricultural or dairy products and the New Zealand dollar makes it a commodity-linked currency.

New Zealand is the top dairy exporting country in the world. Any data related to New Zealand’s dairy industry, like the New Zealand Dairy Auction, dramatically affects the local currency and, ultimately, the kiwi i.e. the NZD/USD currency pair. The economy of New Zealand is highly dependent on exports, because of the small size of the country. Australia is New Zealand’s largest trading partner, as it is the closest neighboring country. China is the second-largest trading partner of New Zealand, due to its high demand for milk products.

The currency of New Zealand has taken many forms throughout history, including physical goods, coins, the British Pound and the Australian Pound, all of which functioned as legal tender in the country before the NZD was introduced. New Zealand got its independence via the New Zealand Constitution Act of 1852, and the British Pound and the Australian Pound were used as currency until 1897. However, in 1967, the country created its own currency, named the New Zealand dollar. The NZD is not the currency of New Zealand alone, but also of the Pitcairn Islands, Tokelau, Niue, the Ross Dependency and the Cook Islands. The New Zealand Dollar is one of the top-10 trading currencies of the world.

Current [[NZD/USD-name]] Price: [[NZD/USD-price]]

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Historical Data Tables:

NZD/USD Historical Price Data

[[NZD/USD-table-day]]

Monthly Change

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Factors affecting the prices of the NZD/USD pair:

The Reserve Bank of New Zealand:
The central bank of New Zealand is known as the Reserve Bank of New Zealand (RBNZ). The Governor of the RBNZ is in charge of the bank and operates the monetary policy. The policy decisions made by RBNZ regarding the Official Cash Rate and Interest Rates play an important role in the Kiwi’s movement and, ultimately, in the performance of the NZD/USD currency pair.

The Trade Balance:
As we already know, the economy of New Zealand is highly dependent on international trading, and the reports issued relating to the trade balance from New Zealand have a major effect on the price movements of the NZD.
New Zealand is located a considerable distance from the world’s major economies, so it faces a lot of international trade challenges. The main exports of the country include dairy products, wool, vegetables, fish and meat.

Gross Domestic Product & Consumer Price Index:
The monthly GDP and CPI data released in both countries, i.e. the United States and New Zealand, plays a major role in deciding the movement of the NZD/USD prices. The GDP is a gauge of the economy’s overall economic performance, and the CPI measures the changes in price levels that influence the demand for local currencies.

Political Events:
The countries involved in the NZD/USD pair are New Zealand and the United States. Both countries have a close trading partnership with Australia and China. Any political uncertainty in the biggest trading countries can affect the NZD/USD currency pair.

Employment Figures:
Employment Change reports from both nations also affect the movements of the currency pair. From New Zealand, the Household Labor Force Survey releases data about employment/unemployment rates, newly employed people and the number of hours worked in different industries.

Commodity Prices:
The overall economic performance of New Zealand is largely dependent on its export of agricultural commodities, such as dairy products, meat, fish and vegetables. If the prices of commodities rise, then the income from the country’s exports increases at the same time. A large portion of New Zealand’s GDP comes from the country’s exports. The increased amount of New Zealand commodity exports means a higher GDP, which in turn reflects a strong economic performance and leads to an appreciation of the NZD and vice versa.
In short, it means that higher commodity prices in New Zealand have a strong positive relationship with the NZD/USD currency pair.

Trading Partners:
Since Australia is the largest trading partner of New Zealand, Australia’s economic performance also has a huge impact on the prices of the NZD. New Zealand’s second-largest trading partner is China, with major exports of dairy products to the Dragon Nation. China’s economic conditions also play an important part in affecting the prices of the New Zealand Dollar, and therefore also on the NZD/USD prices.

Carry Trades:
As New Zealand enjoys higher interest rates, just like Australia compared to other major economies, such as the United States, the United Kingdom and Japan, the local currency gets to benefit from carry trades. The interest rate differentials between economies affect the flow of money into the country.

Investors tend to move towards higher interest rates and sell lower-yielding investments, in order to earn more. This method is known as carry trading. So, the New Zealand exchange rate often generates more money flow, due to higher interest rates and carry trades.