INR vs EM peers: 12-month depreciation scoreboard
Every month we recompute one clean comparison: how much each major emerging-market currency moved against the US dollar over the trailing 12 months, from the same official daily series. This month the rupee sits at #2 of 9 — +11.85% vs USD.
| Rank | Currency | 12m vs USD | |
|---|---|---|---|
| 1 | TRY Turkish lira | +17.03% | worse vs USD over 12m |
| 2 | INR Indian rupee | +11.85% | worse vs USD over 12m |
| 3 | IDR Indonesian rupiah | +9.75% | worse vs USD over 12m |
| 4 | PHP Philippine peso | +7.56% | worse vs USD over 12m |
| 5 | KRW South Korean won | +6.51% | worse vs USD over 12m |
| 6 | THB Thai baht | +3.37% | worse vs USD over 12m |
| 7 | MYR Malaysian ringgit | -3.57% | better vs USD over 12m |
| 8 | ZAR South African rand | -7.77% | better vs USD over 12m |
| 9 | BRL Brazilian real | -8.34% | better vs USD over 12m |
Positive = the currency weakened against the USD over the window ending 2026-07-17. Ranked most-depreciated first.
Method & source
Source: European Central Bank — ECB Data Portal, daily reference exchange rates (series EXR/D.<CCY>.EUR.SP00.A for INR, BRL, ZAR, TRY, IDR, THB, MYR, PHP, KRW, plus USD, published ~16:00 CET on working days), open API, no authentication. USD/INR is derived as EUR/INR ÷ EUR/USD.
Each USD cross is derived as EUR/CCY ÷ EUR/USD on matching dates; the 12-month change compares the last observation on or before 2026-07-17 with the last observation at least 12 months earlier. Series starts differ by currency (EUR/INR and EUR/BRL begin 2000-01-13, the others 1999-01-04) — irrelevant for the 12-month window, disclosed for the record. ECB reference rates are captured at 14:15 CET and are an offshore reference; they differ marginally from the onshore FBIL/RBI reference rate fixed around 13:30 IST, which we cite for cross-checking but do not use in the pipeline. Early ECB observations for INR are flagged “Indicative rate” by the ECB. Factual data only — no forecast, no trade recommendation.
Cite this data
This dataset is free to cite and republish with attribution (CC BY 4.0). Suggested citation:
Forex India Pro. “INR vs EM peers: 12-month depreciation scoreboard.” https://forexindiapro.com/artigos/inr-vs-em-currencies. Data accessed 2026-07-17.