Currency Note Worldwide

A strong Canadian dollar, weak Chinese Yuan and woefully-performing Russian rouble

By Callum Holmes January 2nd, 2015

The Canadian dollar finished off the year strongly, gaining ground against the vast majority of its partners even as commodity prices continued to fall. This was in contrast to its year overall though, where it has dropped 8% against the US dollar.

The Chinese yuan also finished off a weak year in less than impressive style. The manufacturing Purchasing Manager Indices showed a contraction in December, compounding weakness seen throughout the year. With a slowing economy resulting in interest rate cuts, the yuan has shown an annual decline for the first time in five years. As expansion fell from 7.7% to 7.4%, the yuan suffered, and so investors will look for more positive signs this year to aid the currency.

The Russian rouble has been the worst performer over the year, with geo-political influences and the tumbling oil prices both having a significant impact on the currency. It slipped 3% on the final trading day of the year, and has lost out the most against the US dollar with a staggering 44% decline. As such, investors will be looking to see if this trend can be halted in the new year, or if it will continue its slide.