Exchange Rate & External Account Management

Indicators

The measures seeded for this capability in the framework. They are candidate indicators: no cell in the index has a source document attached to it yet.

exchange rate volatility
current account balance to GDP
declared exchange arrangement

Band spread across 197 nations

Frontier 5

Advanced 19

Established 33

Transitional 30

Foundational 54

Nascent 48

Inception 8

All 197 nations

Best first. The score is the mean of the four adjudicators' round-3 integers, rounded to the nearest integer; ±SD is their spread on that cell. Where the spread is three points or more, read the number as a band rather than a value.

#	Nation	Region	Score	Band	Panel SD
1	🇺🇸United States	Americas	20	Frontier	±0.43
2	🇸🇬Singapore	Asia Pacific	19	Frontier	±0.00
3	🇨🇭Switzerland	Europe	19	Frontier	±0.43
4	🇯🇵Japan	Asia Pacific	18	Frontier	±0.43
5	🇬🇧United Kingdom	Europe	18	Frontier	±0.50
6	🇨🇦Canada	Americas	17	Advanced	±0.43
7	🇫🇷France	Europe	17	Advanced	±0.50
8	🇩🇪Germany	Europe	17	Advanced	±0.71
9	🇳🇴Norway	Europe	17	Advanced	±0.50
10	🇰🇷South Korea	Asia Pacific	17	Advanced	±0.50
11	🇸🇪Sweden	Europe	17	Advanced	±0.50
12	🇦🇺Australia	Asia Pacific	16	Advanced	±0.00
13	🇨🇳China	Asia Pacific	16	Advanced	±0.00
14	🇩🇰Denmark	Europe	16	Advanced	±0.00
15	🇮🇱Israel	Middle East	16	Advanced	±0.50
16	🇳🇱Netherlands	Europe	16	Advanced	±0.00
17	🇸🇦Saudi Arabia	Middle East	16	Advanced	±0.00
18	🇹🇼Taiwan	Asia Pacific	16	Advanced	±0.00
19	🇦🇪United Arab Emirates	Middle East	16	Advanced	±0.50
20	🇦🇹Austria	Europe	15	Advanced	±0.43
21	🇧🇪Belgium	Europe	15	Advanced	±0.43
22	🇫🇮Finland	Europe	15	Advanced	±0.00
23	🇱🇺Luxembourg	Europe	15	Advanced	±0.43
24	🇳🇿New Zealand	Asia Pacific	15	Advanced	±0.00
25	🇨🇱Chile	Americas	14	Established	±0.43
26	🇨🇿Czechia	Europe	14	Established	±0.00
27	🇮🇳India	Asia Pacific	14	Established	±0.00
28	🇮🇪Ireland	Europe	14	Established	±0.43
29	🇮🇹Italy	Europe	14	Established	±0.71
30	🇲🇾Malaysia	Asia Pacific	14	Established	±0.00
31	🇲🇽Mexico	Americas	14	Established	±0.43
32	🇵🇱Poland	Europe	14	Established	±0.00
33	🇶🇦Qatar	Middle East	14	Established	±0.43
34	🇿🇦South Africa	Africa	14	Established	±0.43
35	🇪🇸Spain	Europe	14	Established	±0.43
36	🇹🇭Thailand	Asia Pacific	14	Established	±0.00
37	🇧🇷Brazil	Americas	13	Established	±0.43
38	🇭🇷Croatia	Europe	13	Established	±0.50
39	🇪🇪Estonia	Europe	13	Established	±0.00
40	🇮🇸Iceland	Europe	13	Established	±0.43
41	🇰🇼Kuwait	Middle East	13	Established	±0.00
42	🇱🇹Lithuania	Europe	13	Established	±0.00
43	🇲🇹Malta	Europe	13	Established	±0.43
44	🇵🇪Peru	Americas	13	Established	±0.43
45	🇵🇹Portugal	Europe	13	Established	±0.43
46	🇸🇰Slovakia	Europe	13	Established	±0.43
47	🇸🇮Slovenia	Europe	13	Established	±0.43
48	🇧🇬Bulgaria	Europe	12	Established	±0.00
49	🇨🇴Colombia	Americas	12	Established	±0.50
50	🇨🇾Cyprus	Middle East	12	Established	±0.00
51	🇬🇷Greece	Europe	12	Established	±0.43
52	🇭🇺Hungary	Europe	12	Established	±0.43
53	🇮🇩Indonesia	Asia Pacific	12	Established	±0.43
54	🇱🇻Latvia	Europe	12	Established	±0.00
55	🇲🇺Mauritius	Africa	12	Established	±0.71
56	🇷🇴Romania	Europe	12	Established	±0.50
57	🇺🇾Uruguay	Americas	12	Established	±0.43
58	🇧🇭Bahrain	Middle East	11	Transitional	±0.00
59	🇧🇼Botswana	Africa	11	Transitional	±0.50
60	🇧🇳Brunei	Asia Pacific	11	Transitional	±0.43
61	🇲🇦Morocco	Africa	11	Transitional	±0.43
62	🇴🇲Oman	Middle East	11	Transitional	±0.43
63	🇵🇦Panama	Americas	11	Transitional	±1.09
64	🇵🇭Philippines	Asia Pacific	11	Transitional	±0.43
65	🇷🇺Russia	Europe	11	Transitional	±0.43
66	🇷🇸Serbia	Europe	11	Transitional	±0.43
67	🇻🇳Vietnam	Asia Pacific	11	Transitional	±0.00
68	🇧🇸Bahamas	Americas	10	Transitional	±0.43
69	🇨🇷Costa Rica	Americas	10	Transitional	±0.00
70	🇩🇴Dominican Republic	Americas	10	Transitional	±0.00
71	🇬🇪Georgia	Middle East	10	Transitional	±0.00
72	🇬🇹Guatemala	Americas	10	Transitional	±0.50
73	🇯🇴Jordan	Middle East	10	Transitional	±0.43
74	🇰🇿Kazakhstan	Asia Pacific	10	Transitional	±0.00
75	🇳🇦Namibia	Africa	10	Transitional	±0.43
76	🇹🇷Türkiye	Middle East	10	Transitional	±0.43
77	🇦🇱Albania	Europe	9	Transitional	±0.43
78	🇦🇲Armenia	Middle East	9	Transitional	±0.00
79	🇦🇿Azerbaijan	Middle East	9	Transitional	±0.50
80	🇧🇧Barbados	Americas	9	Transitional	±0.43
81	🇪🇬Egypt	Africa	9	Transitional	±0.00
82	🇯🇲Jamaica	Americas	9	Transitional	±0.43
83	🇲🇰North Macedonia	Europe	9	Transitional	±0.43
84	🇵🇾Paraguay	Americas	9	Transitional	±0.00
85	🇸🇳Senegal	Africa	9	Transitional	±0.43
86	🇸🇨Seychelles	Africa	9	Transitional	±0.50
87	🇹🇹Trinidad & Tobago	Americas	9	Transitional	±0.43
88	🇩🇿Algeria	Africa	8	Foundational	±0.00
89	🇦🇬Antigua & Barbuda	Americas	8	Foundational	±0.87
90	🇧🇩Bangladesh	Asia Pacific	8	Foundational	±0.43
91	🇧🇦Bosnia & Herzegovina	Europe	8	Foundational	±0.43
92	🇨🇻Cabo Verde	Africa	8	Foundational	±0.43
93	🇨🇮Côte d'Ivoire	Africa	8	Foundational	±0.50
94	🇫🇯Fiji	Asia Pacific	8	Foundational	±0.43
95	🇭🇳Honduras	Americas	8	Foundational	±0.43
96	🇰🇪Kenya	Africa	8	Foundational	±0.00
97	🇲🇩Moldova	Europe	8	Foundational	±0.50
98	🇲🇨Monaco	Europe	8	Foundational	±0.87
99	🇲🇪Montenegro	Europe	8	Foundational	±0.50
100	🇳🇬Nigeria	Africa	8	Foundational	±0.43
101	🇸🇲San Marino	Europe	8	Foundational	±0.50
102	🇹🇳Tunisia	Africa	8	Foundational	±0.43
103	🇺🇦Ukraine	Europe	8	Foundational	±0.43
104	🇺🇿Uzbekistan	Asia Pacific	8	Foundational	±0.43
105	🇦🇩Andorra	Europe	7	Foundational	±0.43
106	🇦🇴Angola	Africa	7	Foundational	±0.50
107	🇧🇿Belize	Americas	7	Foundational	±0.00
108	🇧🇹Bhutan	Asia Pacific	7	Foundational	±0.43
109	🇰🇭Cambodia	Asia Pacific	7	Foundational	±0.43
110	🇩🇲Dominica	Americas	7	Foundational	±0.43
111	🇸🇻El Salvador	Americas	7	Foundational	±0.43
112	🇬🇭Ghana	Africa	7	Foundational	±0.43
113	🇬🇩Grenada	Americas	7	Foundational	±0.50
114	🇬🇾Guyana	Americas	7	Foundational	±0.00
115	🇱🇮Liechtenstein	Europe	7	Foundational	±0.83
116	🇲🇳Mongolia	Asia Pacific	7	Foundational	±0.00
117	🇳🇵Nepal	Asia Pacific	7	Foundational	±0.43
118	🇵🇰Pakistan	Asia Pacific	7	Foundational	±0.50
119	🇰🇳Saint Kitts & Nevis	Americas	7	Foundational	±0.50
120	🇱🇨Saint Lucia	Americas	7	Foundational	±0.50
121	🇻🇨Saint Vincent & Grenadines	Americas	7	Foundational	±0.50
122	🇱🇰Sri Lanka	Asia Pacific	7	Foundational	±0.87
123	🇹🇿Tanzania	Africa	7	Foundational	±0.00
124	🇺🇬Uganda	Africa	7	Foundational	±0.43
125	🇧🇾Belarus	Europe	6	Foundational	±0.43
126	🇧🇯Benin	Africa	6	Foundational	±0.43
127	🇧🇴Bolivia	Americas	6	Foundational	±0.50
128	🇨🇲Cameroon	Africa	6	Foundational	±0.00
129	🇩🇯Djibouti	Africa	6	Foundational	±0.43
130	🇪🇨Ecuador	Americas	6	Foundational	±0.43
131	🇸🇿Eswatini	Africa	6	Foundational	±0.00
132	🇪🇹Ethiopia	Africa	6	Foundational	±0.00
133	🇬🇦Gabon	Africa	6	Foundational	±0.00
134	🇮🇶Iraq	Middle East	6	Foundational	±0.43
135	🇰🇬Kyrgyzstan	Asia Pacific	6	Foundational	±0.00
136	🇲🇻Maldives	Asia Pacific	6	Foundational	±0.00
137	🇲🇱Mali	Africa	6	Foundational	±0.83
138	🇳🇮Nicaragua	Americas	6	Foundational	±0.43
139	🇷🇼Rwanda	Africa	6	Foundational	±0.43
140	🇹🇬Togo	Africa	6	Foundational	±0.43
141	🇿🇲Zambia	Africa	6	Foundational	±0.00
142	🇦🇷Argentina	Americas	5	Nascent	±0.43
143	🇧🇫Burkina Faso	Africa	5	Nascent	±0.43
144	🇨🇬Congo	Africa	5	Nascent	±0.43
145	🇬🇶Equatorial Guinea	Africa	5	Nascent	±0.00
146	🇬🇲Gambia	Africa	5	Nascent	±0.00
147	🇬🇳Guinea	Africa	5	Nascent	±0.43
148	🇮🇷Iran	Asia Pacific	5	Nascent	±0.43
149	🇽🇰Kosovo	Europe	5	Nascent	±0.50
150	🇱🇦Laos	Asia Pacific	5	Nascent	±0.00
151	🇱🇸Lesotho	Africa	5	Nascent	±0.00
152	🇲🇬Madagascar	Africa	5	Nascent	±0.00
153	🇲🇷Mauritania	Africa	5	Nascent	±0.00
154	🇲🇿Mozambique	Africa	5	Nascent	±0.00
155	🇳🇪Niger	Africa	5	Nascent	±0.43
156	🇵🇬Papua New Guinea	Asia Pacific	5	Nascent	±0.43
157	🇼🇸Samoa	Asia Pacific	5	Nascent	±0.00
158	🇸🇹São Tomé & Príncipe	Africa	5	Nascent	±0.00
159	🇸🇱Sierra Leone	Africa	5	Nascent	±0.00
160	🇸🇧Solomon Islands	Asia Pacific	5	Nascent	±0.00
161	🇸🇷Suriname	Americas	5	Nascent	±0.00
162	🇹🇯Tajikistan	Asia Pacific	5	Nascent	±0.00
163	🇹🇱Timor-Leste	Asia Pacific	5	Nascent	±0.50
164	🇹🇴Tonga	Asia Pacific	5	Nascent	±0.43
165	🇻🇺Vanuatu	Asia Pacific	5	Nascent	±0.43
166	🇹🇩Chad	Africa	4	Nascent	±0.43
167	🇰🇲Comoros	Africa	4	Nascent	±0.71
168	🇨🇩DR Congo	Africa	4	Nascent	±0.43
169	🇬🇼Guinea-Bissau	Africa	4	Nascent	±0.43
170	🇱🇷Liberia	Africa	4	Nascent	±0.00
171	🇱🇾Libya	Africa	4	Nascent	±0.00
172	🇲🇼Malawi	Africa	4	Nascent	±0.43
173	🇲🇲Myanmar	Asia Pacific	4	Nascent	±0.50
174	🇵🇼Palau	Asia Pacific	4	Nascent	±0.50
175	🇹🇲Turkmenistan	Asia Pacific	4	Nascent	±0.00
176	🇧🇮Burundi	Africa	3	Nascent	±0.00
177	🇨🇫Central African Rep.	Africa	3	Nascent	±0.71
178	🇨🇺Cuba	Americas	3	Nascent	±0.00
179	🇪🇷Eritrea	Africa	3	Nascent	±0.50
180	🇭🇹Haiti	Americas	3	Nascent	±0.00
181	🇰🇮Kiribati	Asia Pacific	3	Nascent	±0.00
182	🇱🇧Lebanon	Middle East	3	Nascent	±0.43
183	🇲🇭Marshall Islands	Asia Pacific	3	Nascent	±0.43
184	🇫🇲Micronesia	Asia Pacific	3	Nascent	±0.43
185	🇳🇷Nauru	Asia Pacific	3	Nascent	±0.43
186	🇵🇸Palestine	Middle East	3	Nascent	±0.00
187	🇹🇻Tuvalu	Asia Pacific	3	Nascent	±0.50
188	🇻🇪Venezuela	Americas	3	Nascent	±0.50
189	🇿🇼Zimbabwe	Africa	3	Nascent	±0.00
190	🇦🇫Afghanistan	Asia Pacific	2	Inception	±0.00
191	🇸🇴Somalia	Africa	2	Inception	±0.43
192	🇸🇸South Sudan	Africa	2	Inception	±0.43
193	🇸🇩Sudan	Africa	2	Inception	±0.43
194	🇻🇦Holy See	Europe	1	Inception	±0.43
195	🇰🇵North Korea	Asia Pacific	1	Inception	±0.00
196	🇸🇾Syria	Middle East	1	Inception	±0.00
197	🇾🇪Yemen	Middle East	1	Inception	±0.00

Others in Monetary & Currency Capability

Capability	World mean	Range	Leader
Monetary Policy & Price Stability	8.5	1–19	United States
Currency Issuance & Digital Money	8.5	1–18	China, Singapore