A sizeable domestic economy
Stable domestic macroeconomic conditions and policies
Use of the currency as a currency peg or anchor currency
Convertibility of the currency
Size, depth, openness of the financial markets
Importance of the economy in international trade
INR
RUB
JPY
GBP
EUR
USD
RMB
Share of global GDP
US (USD): 11.45%
Euro Area (EUR): 13.09%
UK (GBP): 3.59%
Japan (JPY): 3.26%
China (RMB): 10.87%
India (INR): 2.66%
Russia (RUB): 1.38%
US (USD): 25.19%
Euro Area (EUR): 16.88%
UK (GBP): 3.07%
Japan (JPY): 3.83%
China (RMB): 16.13%
India (INR): 3.24%
Russia (RUB): 1.83%
Share of global trade
US (USD): 0.9
Euro Area (EUR): 0.71
UK (GBP): 0.85
Japan (JPY): 0.86
China (RMB): 0.64
India (INR): 0.58
Russia (RUB): 0.44
financial markets index
US (USD): 2.30
Euro Area (EUR): 2.30
UK (GBP): 2.30
Japan (JPY): 2.30
China (RMB): -1.24
India (INR): -1.24
Russia (RUB): -1.24
CHINN-ITO INDEX
US (USD): 45.96%
Euro Area (EUR): 19.78%
UK (GBP): 3.26%
Japan (JPY): 3.70%
China (RMB): 0%
India (INR): 3.53%
Russia (RUB): 0%
SHARE OF GLOBAL GDP ANCHORED TO CURRENCY
US (USD): AA+
Euro Area (EUR): AAA
UK (GBP): AA
Japan (JPY): A+
China (RMB): A+
India (INR): BBB-
Russia (RUB): CC
S&P Long-term credit rating
Source: S&P Global Ratings
Source: Ilzetzki, Reinhart, and Rogoff (2019, 2021)
Source: Chinn-Ito Index
Source: IMF Financial Markets Index
Source: World Bank data (exports and imports), Eurostat
Source: IMF WEO October 2023
Click on the bubbles to see the indicators
The US Treasury Department originally identified the six criteria in 2009 and now the Atlantic Council GeoEconomics Center built this new framework by identifying specific indicators to compare the selected currencies’ performance in each criterion. You can access the detailed methodology here.