Countries with the strongest and weakest currencies in 2022
The currencies of two neighboring countries in South America were the best and worst-performing currencies among the 25 largest economies in the world in 2022. Those countries are even planning to create a common currency in the near future despite the big differences that exist between them.
The Brazilian Real appreciated by 8.28% against the US dollar in 2022 and was the best-performing currency. Only four other currencies - the Mexican peso, Russian ruble, Iranian rial and United Arab Emirates Dirham appreciated against the USD in 2022.
The Argentinian peso depreciated by 41,74% against the USD and was the worst-performing currency. Other currencies that performed poorly in 2022 are the Turkish lira, Japanese yen and Swedish krone.
Overall, the US dollar performed well in 2022 as a result of the increase of the interest rate by the FED and the geopolitical instability.
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