The dollar will again shake the world in 2015

The U.S. dollar, which rapidly strengthened in 2014, shook the world's several local currencies, strong or weak, last year. Many local currencies lost value against the dollar. The euro, especially in the second half of 2014, was seriously shaken, but nevertheless, its annual average value in 2014 was the same as its average annual value in 2013. Thus, its position against the dollar stayed the same on an annual average basis. But it is difficult to say the same for 2015.

The Japanese yen, the British pound, Norwegian, Swedish and Danish krone and the Canadian dollar were all currencies that continuously lost value against the U.S. dollar. The rates are, of course, different; the currencies of emerging countries, including Turkey, lost values in different rates.

On the other hand, there are also currencies that did not lose value, but gained value, against the U.S. dollar: For example, the Chinese Yuan, as well as the South Korean won and the Australian dollar.

Biggest losers

Most of the 52 world currencies that the IMF monitors were shaken before the U.S. dollar value rose. The fastest devaluating currencies were the Iranian riyal and the Russian ruble, with the Turkish Lira taking third place.

The local currency of Iran, a country which has been at odds with the U.S. for many years, the riyal, rapidly lost value against the dollar in 2013 and 2014. The annual average of the riyal in 2014 was 38 percent below its annual value in 2013. Iran went through shock devaluation such as 102 percent on July 3, 2013. After the devaluation, the riyal continued its course with small fluctuations.

After the shock fall in oil prices, Iran's export income decreased and now it is anticipated with curiosity whether or not...