Dollar vs Rupees vs Yuan: Who's winning?

[{"selector":"#anim-5f9e64c7-a7cb-4d25-b5d7-fc161a66fd21","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f20457b-b0ef-4065-a0dc-eec2ebbb524b","keyframes":{"transform":["translate3d(109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Still the world’s dominant reserve currency, the USD remains strong due to global trade dominance and investor trust despite rising US debt

[{"selector":"#anim-84d9355a-fba6-4792-a244-4e0e73fffbb3","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6dedd332-7040-4043-bd9f-6d436dfffbaf","keyframes":{"transform":["translate3d(-114.98423%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5d38f2d3-8168-49ad-9c93-016d5552ee50","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-114a97c6-99d9-4900-aa32-89dda476d37b","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af4c2a1b-6b54-4666-be64-3f8ee73c1f2f","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3075ecd0-3fdb-4237-9085-027f42892a56","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The Indian rupee has remained largely stable in 2025, trading between ₹82–₹85/USD, but faces pressure from crude oil prices and trade deficit

[{"selector":"#anim-656c61a2-11c4-4d3a-8d9a-41036dc9eead","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7226103d-eb07-490e-b21b-30dfee612218","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ab64e1fe-bef0-4ade-b694-9f1bac30e97a","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-761b7158-369a-4c04-ad15-aa03b632a0a4","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-81b40e9b-720a-413c-9dac-67dd4f2617f4","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-436e9c32-d667-4cf9-b46a-17206eedbe11","keyframes":{"transform":["translate3d(-114.8265%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The Chinese yuan (Renminbi) is gaining traction, especially with BRICS+ nations pushing for de-dollarization and trade in local currencies

[{"selector":"#anim-1218b410-bd1c-4008-b205-1a6f1a8a542c","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1395c514-01e6-42b2-abdb-818dad765942","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-618addf8-2147-451f-8524-6882b954cdb7","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c47fa470-9773-48f8-956f-6d5222e88e27","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3a96098f-ba52-4f40-b410-e1ec88e739eb","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07fbdafd-1ee5-4f67-b156-4eaf39784bb6","keyframes":{"transform":["translate3d(-114.8265%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

[{"selector":"#anim-97887c21-c9cc-4e00-95ed-f03b3ebe539c","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ffd9ce67-2d09-4b74-ae12-0a3d5ab23363","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d277555f-659a-4966-b473-79ca184682fe","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-add266b0-a0a2-4e6e-ac34-7d861e245650","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54e2fc69-5eac-4e53-a1c9-bcee118055b7","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9c5ea6ca-b8ec-426b-bce2-7886a657a03e","keyframes":{"transform":["translate3d(-114.8265%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The US Dollar has slightly gained against Asian currencies, with the Rupee down ~2% YTD, while the Yuan remains flat but more globally used

[{"selector":"#anim-ca4f8c28-d048-4fe8-af74-9d70d69f8a49","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e78f9dd-b711-4068-9438-325a370c155e","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cf90dd61-5d25-4f5b-826a-67c05b4ee52b","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fee49bd0-2cb1-44ae-9fbb-7c2a32fe04da","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9f07537a-f838-43cf-8f59-258fc249f0d8","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9032a1c6-7769-42c4-ab97-1a031f0408f2","keyframes":{"transform":["translate3d(-114.8265%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] China and India are part of the BRICS+ bloc pushing for alternatives to the dollar in global trade, boosting the yuan and rupee regionally

[{"selector":"#anim-d3176de8-a4f2-4699-961a-4d13966b2038","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-baecb97f-c5fb-4c30-b7a4-363dec8b3738","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b9c18a3c-f059-4350-a463-f02bbd27b20c","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74cda504-d2c4-4e1d-97a0-fe4ca75c93ce","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d99351c0-8698-4535-992a-a1870a5967f1","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b8233006-781b-44cf-8b34-186aecef1900","keyframes":{"transform":["translate3d(-114.8265%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The USD remains dominant in energy trade. The INR sees limited use in bilateral deals (e.g., UAE, Russia), while Yuan usage is rising in Africa, the Middle East, and ASEAN

[{"selector":"#anim-4b272e0b-0077-44fb-b921-514b9d778a94","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d345d45-0829-4caf-86a4-62e6abb31ae2","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6f8cc8ba-fcc9-4ea5-8be3-30c7879183aa","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-64352f50-5043-4271-a6f7-6eb0471fc393","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9445e7fa-76de-4c72-b63b-1348a967dfaa","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1b20e93c-9108-4b8b-8f61-b4c7f6a53feb","keyframes":{"transform":["translate3d(-114.8265%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] China’s Digital Yuan leads in adoption. India’s e₹ (Digital Rupee) is expanding in pilot stages. The US Fed is still evaluating digital dollar

[{"selector":"#anim-370cdd7f-06e8-4e14-bd05-a7048a4dffb5","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ef2d9cd4-feed-4f51-80db-fb3753517601","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-130bdf5e-a796-441e-b692-4e3cec751a98","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8bffd425-181b-4db1-b9d2-d892d305991f","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5913c754-802e-4434-a1fe-10ae54e31003","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a7d6fbc9-5a06-4174-874e-16a3687167aa","keyframes":{"transform":["translate3d(-114.98423%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Who’s Winning? USD dominates globally, yuan gains ground regionally, and rupee holds steady but lacks influence. It's a three-way tug-of-war with different strengths

In 2025, the dollar still wins globally, the yuan is rising, and the rupee remains domestically strong but globally limited. Watch this space

[{"selector":"#anim-4c566eba-c90d-4d01-904f-7cb80880ddf7","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-60d11161-a9ed-435f-bb05-7da80fd0f36a","keyframes":{"transform":["translate3d(106.28416%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dfe8e056-e815-4baf-aa3c-d65535990b51","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2db059c1-1543-46ca-b704-a67afdae9ae2","keyframes":{"transform":["translate3d(-109.71015%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8e995c7b-177d-412a-bfbb-393cf8b26943","keyframes":{"opacity":[0,1]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-981b36d1-b524-49f8-9cd5-b9191abfeccc","keyframes":{"transform":["translate3d(-114.98423%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]