$8.5 trillion foreign exchange pile is Asia’s shield from resurgent US dollar

Quick Summary:

Asian currencies pressured by rising odds of a Donald Trump presidency and uncertainties over pace of Fed rate cuts.

Keeping currencies stable has become all the more important as central banks start lowering rates to tackle slowing economic growth.

Bank Indonesia kicked off the region’s easing cycle with an unexpected rate cut in September, followed by South Korea, Thailand and the Philippines in October.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaIndiaIndonesiaJapanSouth KoreaMalaysiaPhilippinesThailandVietnam

Topics: According Banks Currencies Dollar Reserves Trump Central Forex Bank Trillion Asian

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 09:20:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 722 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23358661

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 17 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 35 minutes ago

Coverage Areas: Singapore

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Publisher ID: #25

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