A review of the values of 143 global currencies indicates that so far this year, more than 80 percent have fallen in value.
Another eleven appear to be pegged to the dollar and 13 have risen in value. Of the 13 that have increased in value, only six are up more than 1 percent versus the dollar.
There have been outsized declines in countries like Venezuela (down 99 percent), Argentina (53 percent) and Turkey (38 percent). However, Brazil is down 20 percent, Russia 15 percent, India 11 percent, Sweden 10 percent, and the Philippines 8 percent. Big economies like China are experiencing a 5 percent currency value decline while the Euro is off by 3 percent.
The reason for these declines would appear to be the differing monetary policies of the United States and most of the rest of the world. The United States is experiencing solid economic growth and some signs of inflation. This has led the Federal Reserve to raise interest rates seven times in the past 22 months and it has nurtured the expectation that there will be 5 more increases in the next 15 months.