Regional Outlook, Global Perspective

ASEAN-REGIONAL CURRENCIES CAUGHT UP IN BATTLE OF THE TITANS

ASEAN-REGIONAL CURRENCIES CAUGHT UP IN BATTLE OF THE TITANS

By Suwitchai Songwanich

The Nation-Aug 6

Last month the baht and other ASEAN currencies were caught up in the recent weakening of the Chinese yuan, with the baht and Singapore dollar all hitting one year lows in the middle of last month while the ringgit hit a seven-month low. The impetus for this fall in regional currencies was the yuan, which fell below 6.7 to the dollar in mid-July, down by 4.7 per cent from mid-June, to become Asia’s worst performing currency.

Read more at: http://www.nationmultimedia.com/detail/opinion/30351498

First published in The Nation

 

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