Australians Swerve Thai Holidays with Exchange Rates in the Gutter
With AUD-THB at a 10-year low, Australians travelling this year to Thailand's wildly popular resorts are facing holiday costs 50 percent higher than those paid in 2012. With exchange rates as they are, those in Oz are choosing better-value destinations.
Higher Interest Rates Boost USD but Spell Trouble for Asia FX
Friday’s announcement by the BLS that unemployment in the US has fallen to its lowest level in half a century further firmed expectations for US interest rates and was sufficient to drive the US dollar to fresh long-term highs against currencies throughout the Asia-Pacific region.
Bets Against IDR, SGD and INR Increase
A Reuters survey of investors this week has shown increased bearishness on the Indonesian rupiah, Singapore dollar and Indian rupee. Each of the Asian currencies has lost value this year amid concerns for global trade and following emerging market currency crises in Argentina and Turkey.
Philippine Peso at Eleven-Year Low and Australian Dollar Falls on CPI Miss
The hearts of those holding Philippine pesos were broken on Tuesday after the currency slipped to its weakest level against the dollar in more than eleven years. The peso weakened by 33 centavos to 51.85 per dollar. The peso wasn’t alone in falling against the dollar; most Asia-Pac currencies did the same as the greenback […]
Asian Currencies Have Muted Start to Golden Week
Currencies in Asia have begun the week slowly and also with contrasting performances against the FX majors. Against the dollar, while all of Asia’s ten most active currencies have fallen marginally on Monday morning, many hold slight gains or remain unchanged against the euro. Little movement has been seen against the yen. A mixed bag […]
Rupiah Redenomination Has Government Support but Timing Uncertain
The Indonesian rupiah might soon be getting a long overdue overhaul. A “redenomination bill” has been proposed by Bank Indonesia that would prepare the way to scrap as many as four zeros from the country’s rupiah notes. The bill has gained wide support in government, although the timing of its implementation remains uncertain. Importantly, any redenomination would […]