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Biggest forex rout since 1997 puts Asia central banks in a dilemma

Business Mirror LogoBusiness Mirror1 mo ago

Biggest forex rout since 1997 puts Asia central banks in a dilemma

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Stockpiles in Thailand and Indonesia have fallen to their lowest since 2020, as officials pledge to curb volatility in their currencies, while thus far holding off on raising rates.

Central banks have already drawn billions of dollars from their reserves to slow the declines in their currencies.

The Bloomberg JPMorgan Asia Dollar Index is poised for a 4.8 percent drop this quarter, the steepest since the crisis pummeled currencies almost 25 years ago.


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Article Details

Author / Journalist: Bloomberg News

Category: EconomyStartups

Topics: World Featured

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 13:47:27

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Reading Time: 5 minutes read

Article Length: 756 words

Coverage Area: Philippines

Availability: Desktop Web, Mobile Web

News ID: 25624

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About Business Mirror

Business Mirror Logo

Main Topics: EconomyStartups

Official Website: businessmirror.com.ph

Update Frequency: 76 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 9h ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #37

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