Published
13 minutes ago
on
January 23, 2026
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By
Julia Wendling
Graphics & Design
- Athul Alexander
The following content is sponsored by OANDA
Mapped: How Currency Performance Shifted by Region in 2025
Economic health, trade dynamics, and financial stability (among other factors) remain critical determinants of currency performance.
This graphic, created in partnership with OANDA, illustrates the 2025 performance of the most-traded currencies by region, offering an overall health check on some of the world’s most influential currencies.
What Are the Most-Traded Currencies by Region?
The most-traded currency across North America, and the world, is the U.S. dollar (USD). According to the BIS, the USD has an average daily trading volume of $8.56 trillion.
In Europe, the euro (EUR) takes the top spot, with an average daily trading volume of $2.77 trillion.
Other leading regional currencies include the Japanese yen (East Asia & Pacific), Mexican peso (Latin America & Caribbean), Indian rupee (South Asia), UAE dirham (Middle East & North Africa), and South African rand (Sub-Saharan Africa).
Which Currencies Gained Ground in 2025?
After a challenging prior year, most major currencies rebounded in 2025, posting gains against the U.S. dollar.
The strongest performers were the Mexican peso, which surged 15.3%, and the South African rand, up 13.5%. The euro also staged a notable comeback, climbing 13.0% as easing inflation pressures and improving growth expectations supported the currency.
| Region | Currency | 2025 (% change) |
|---|---|---|
| North America | U.S. dollar (USD) | -9.1% |
| Middle East & North Africa | UAE dirham (AED) | 0.0% |
| South Asia | Indian rupee (INR) | -4.8% |
| Sub-Saharan Africa | South African rand (ZAR) | 13.5% |
| Europe & Central Asia | Euro (EUR) | 13.0% |
| East Asia & Pacific | Japanese yen (JPY) | 0.1% |
| Latin America & Caribbean | Mexican peso (MXN) | 15.3% |
Meanwhile, the Japanese yen finished the year essentially flat, gaining 0.1%, reflecting continued monetary policy divergence with the U.S.
Which Currencies Lost Ground in 2025?
In contrast to broad global gains, the U.S. dollar weakened sharply in 2025, falling 9.1% as slowing economic momentum and shifting interest rate expectations weighed on the currency.
The Indian rupee also declined, slipping 4.8% against the USD amid persistent structural challenges and capital flow pressures. The UAE dirham, which remains pegged to the U.S. dollar, finished the year flat, mirroring USD performance.
Opportunities in Foreign Exchange Trading
The reversal in currency performance highlights how quickly conditions can change in global FX markets. As capital rotated away from the U.S. dollar in 2025, several previously underperforming currencies staged strong recoveries.
For investors looking ahead, opportunities may emerge in tracking relative economic momentum, central bank policy shifts, and commodity-linked currencies. This is particularly the case in regions that showed resilience or renewed strength over the year.
OANDA can help you trade smarter with a wide range of global currencies, including the USD.
Note: Past performance is not indicative of future results.
Learn how to trade smarter in 2026 with OANDA’s free outlook.
Related Topics: #Japanese yen #uae dirham #mexican peso #oanda #Indian Rupee #foreign exchange #currencies #u.s. dollar #fx #USD
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