Exchange rates against the dollar

Thanks to a growing American economy and quantitative easing by the European Central Bank and the Bank of Japan, the dollar has been on a tear. Investors have rushed to buy American assets, in the hope of getting higher interest rates. Against the dollar, the euro has lost nearly 30% of its value over the past year; the Australian dollar, nearly 20%. The Russian rouble has been suffering for different reasons: it has dropped by a third against the dollar amid falling oil prices and international sanctions. The Chinese yuan is the only major currency to have risen against the greenback over the past year, but its appreciation has slowed as China’s central bank has shown a willingness to let the yuan weaken.