Race to Debase - 2011 Q3 - Fiat Currencies vs Gold & Silver

GoldSilver.com
OCTOBER 03, 2011

Welcome back to the Worldwide Fiat Currency Race to Debase!

Rounding out the third quarter of 2011 heading to the finish line for the year, we are again tracking the performance of gold and silver bullion versus 75 different dying fiat currencies around the world.

Through the 3rd quarter of 2011 gold appears to be running away with another annual victory in value!

Thus far in 2011, gold has appreciated 17.2% versus 75 fiat currencies from around the world.

Kenyan Schillings, South African Rands, and Turkey Lira have been the biggest losers to gold thus far in 2011, down over 42%, 38%, and 37% respectively to the yellow metal's value.

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Afghanistan Afghanis	61,158	78,334	28.1%
Albania Leke	148,940	168,907	13.4%
Algeria Dinars	104,548	121,100	15.8%
Argentina Pesos	5,642	6,819	20.9%
Australia Dollars	1,389	1,663	19.8%
Bahamas Dollars	1,421	1,621	14.1%
Bahrain Dinars	536	611	14.0%
Bangladesh Taka	100,212	121,789	21.5%
Barbados Dollars	2,843	3,242	14.0%
Bermuda Dollars	1,421	1,621	14.1%
Brazil Reais	2,359	3,004	27.3%
Bulgaria Leva	2,081	2,358	13.3%
CFA BEAC Francs	696,322	791,051	13.6%
Canada Dollars	1,418	1,684	18.8%
Chile Pesos	664,883	846,118	27.3%
China Yuan Renminbi	9,369	10,348	10.4%
Colombia Pesos	2,722,077	3,119,868	14.6%
Comptoirs FranÃ§ais Francs	126,675	143,908	13.6%

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Costa Rica Colones	715,132	824,665	15.3%
Croatia Kuna	7,844	9,041	15.3%
Czech Republic Koruny	26,558	29,783	12.1%
Denmark Kroner	7,913	8,974	13.4%
Dominican Republic Pesos	52,878	61,845	17.0%
East Caribbean Dollars	3,838	4,377	14.0%
Egypt Pounds	8,252	9,673	17.2%
Euro	1,062	1,206	13.6%
Fiji Dollars	2,632	2,991	13.6%
Hong Kong Dollars	11,049	12,620	14.2%
Hungary Forint	295,818	353,038	19.3%
IMF Special Drawing Rights	923	1,038	12.5%
Iceland Kronur	163,538	191,474	17.1%
India Rupees	63,539	79,566	25.2%
Indonesia Rupiahs	12,793,050	14,241,724	11.3%
Iran Rials	14,645,199	17,419,182	18.9%
Iraq Dinars	1,658,832	1,894,325	14.2%
Israel New Shekels	5,043	6,069	20.3%
Jamaica Dollars	120,397	139,007	15.5%

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Japan Yen	115,351	124,882	8.3%
Jordan Dinars	1,006	1,149	14.2%
Kenya Shillings	114,427	162,592	42.1%
Kuwait Dinars	400	449	12.1%
Lebanon Pounds	2,132,175	2,437,455	14.3%
Malaysia Ringgits	4,384	5,175	18.1%
Mauritius Rupees	42,359	47,007	11.0%
Mexico Pesos	17,571	22,324	27.0%
Morocco Dirhams	11,842	13,494	14.0%
New Zealand Dollars	1,821	2,113	16.0%
Norway Kroner	8,273	9,469	14.5%
Oman Rials	547	623	13.9%
Pakistan Rupees	121,690	141,862	16.6%
Peru Nuevos Soles	3,987	4,495	12.7%
Philippines Pesos	62,032	70,957	14.4%
Poland Zlotych	4,209	5,321	26.4%
Qatar Riyals	5,175	5,903	14.1%
Romania New Lei	4,541	5,249	15.6%
Russia Rubles	43,322	52,183	20.5%

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Saudi Arabia Riyals	5,331	6,080	14.1%
Singapore Dollars	1,826	2,110	15.5%
South Africa Rand	9,424	13,004	38.0%
South Korea Won	1,592,877	1,914,735	20.2%
Sri Lanka Rupees	157,696	178,602	13.3%
Sudan Pounds	3,551	4,339	22.2%
Sweden Kronor	9,554	11,062	15.8%
Switzerland Francs	1,328	1,468	10.5%
Taiwan New Dollars	41,421	49,452	19.4%
Thailand Baht	42,672	50,491	18.3%
Trinidad and Tobago Dollars	9,012	10,375	15.1%
Tunisia Dinars	1,992	2,322	16.6%
Turkey Lira	2,185	3,007	37.6%
United Arab Emirates Dirhams	5,221	5,955	14.1%
United Kingdom Pounds	911	1,038	13.9%
United States Dollars	1,421	1,621	14.1%
Venezuela Bolivares Fuertes	6,112	6,971	14.1%
Vietnam Dong	27,711,168	33,768,458	21.9%
Zambia Kwacha	6,794,531	7,854,166	15.6%

Welcome back to the Worldwide Fiat Currency Race to Debase!

Silver has had a wild ride through the first three quarters in 2011, from having the lead in the first half of the race to recently faltering in search of its second wind.

Overall silver has still appreciated 0.55% versus 75 different fiat currencies globally.

Kenyan Schillings, South African Rands, and Turkey Lira have been the biggest losers to silver thus far in 2011, down 21.9%, 18.4%, and 18.0% respectively to the white metal's value.

Currency vs 1 oz Silver	1-Jan-11	30-Sep-11	% Silver + / - Q3 2011
Afghanistan Afghanis	1,329.80	1,461.18	9.9%
Albania Leke	3,238.49	3,150.66	-2.7%
Algeria Dinars	2,273.25	2,258.89	-0.6%
Argentina Pesos	122.67	127.20	3.7%
Australia Dollars	30.21	31.03	2.7%
Bahamas Dollars	30.91	30.24	-2.2%
Bahrain Dinars	11.65	11.40	-2.2%
Bangladesh Taka	2,178.98	2,271.75	4.3%
Barbados Dollars	61.82	60.48	-2.2%
Bermuda Dollars	30.91	30.24	-2.2%
Brazil Reais	51.29	56.03	9.2%
Bulgaria Leva	45.24	43.99	-2.8%
CFA BEAC Francs	15,140.58	14,755.62	-2.5%
Canada Dollars	30.84	31.42	1.9%
Chile Pesos	14,456.98	15,782.79	9.2%
China Yuan Renminbi	203.71	193.02	-5.2%
Colombia Pesos	59,187.86	58,195.44	-1.7%
Comptoirs FranÃ§ais Francs	2,754.37	2,684.34	-2.5%

Currency vs 1 oz Silver	1-Jan-11	30-Sep-11	% Silver + / - Q3 2011
Costa Rica Colones	15,549.56	15,382.63	-1.1%
Croatia Kuna	170.55	168.64	-1.1%
Czech Republic Koruny	577.46	555.55	-3.8%
Denmark Kroner	172.07	167.39	-2.7%
Dominican Republic Pesos	1,149.76	1,153.60	0.3%
East Caribbean Dollars	83.45	81.65	-2.2%
Egypt Pounds	179.42	180.42	0.6%
Euro	23.08	22.49	-2.5%
Fiji Dollars	57.24	55.79	-2.5%
Hong Kong Dollars	240.24	235.40	-2.0%
Hungary Forint	6,432.16	6,585.28	2.4%
IMF Special Drawing Rights	20.07	19.36	-3.5%
Iceland Kronur	3,555.91	3,571.60	0.4%
India Rupees	1,381.57	1,484.16	7.4%
Indonesia Rupiahs	278,167.50	265,653.37	-4.5%
Iran Rials	318,439.97	324,923.04	2.0%
Iraq Dinars	36,069.05	35,335.17	-2.0%
Israel New Shekels	109.66	113.20	3.2%
Jamaica Dollars	2,617.87	2,592.92	-1.0%

Currency vs 1 oz Silver	1-Jan-11	30-Sep-11	% Silver + / - Q3 2011
Japan Yen	2,508.14	2,329.44	-7.1%
Jordan Dinars	21.88	21.43	-2.0%
Kenya Shillings	2,488.05	3,032.86	21.9%
Kuwait Dinars	8.69	8.37	-3.7%
Lebanon Pounds	46,361.25	45,466.28	-1.9%
Malaysia Ringgits	95.33	96.54	1.3%
Mauritius Rupees	921.04	876.83	-4.8%
Mexico Pesos	382.05	416.41	9.0%
Morocco Dirhams	257.48	251.71	-2.2%
New Zealand Dollars	39.60	39.41	-0.5%
Norway Kroner	179.88	176.63	-1.8%
Oman Rials	11.90	11.62	-2.3%
Pakistan Rupees	2,645.99	2,646.18	0.0%
Peru Nuevos Soles	86.70	83.84	-3.3%
Philippines Pesos	1,348.80	1,323.57	-1.9%
Poland Zlotych	91.53	99.25	8.4%
Qatar Riyals	112.53	110.12	-2.1%
Romania New Lei	98.74	97.92	-0.8%
Russia Rubles	941.98	973.38	3.3%

Currency vs 1 oz Silver	1-Jan-11	30-Sep-11	% Silver + / - Q3 2011
Saudi Arabia Riyals	115.91	113.41	-2.2%
Singapore Dollars	39.70	39.36	-0.9%
South Africa Rand	204.92	242.57	18.4%
South Korea Won	34,634.94	35,715.88	3.1%
Sri Lanka Rupees	3,428.88	3,331.49	-2.8%
Sudan Pounds	77.21	80.93	4.8%
Sweden Kronor	207.74	206.35	-0.7%
Switzerland Francs	28.88	27.38	-5.2%
Taiwan New Dollars	900.64	922.45	2.4%
Thailand Baht	927.84	941.82	1.5%
Trinidad and Tobago Dollars	195.95	193.52	-1.2%
Tunisia Dinars	43.32	43.31	0.0%
Turkey Lira	47.52	56.09	18.0%
United Arab Emirates Dirhams	113.53	111.07	-2.2%
United Kingdom Pounds	19.80	19.36	-2.2%
United States Dollars	30.91	30.24	-2.2%
Venezuela Bolivares Fuertes	132.90	130.03	-2.2%
Vietnam Dong	602,541.71	629,888.94	4.5%
Zambia Kwacha	147,737.85	146,505.13	-0.8%