Category: asian currencies

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Asian Currencies Hit 19-Month Low: Devere CEO Predicts Continued Weakness

June 28, 2024

Asian currencies have reached their lowest levels in over 19 months as the U.S. dollar strengthens, driven by expectations of prolonged elevated U.S. interest rates. The Bloomberg Asia Dollar Index fell by 0.1% on Thursday, marking its lowest point since November 2022. Significant declines in the Philippine peso, Indian rupee, and South Korean won are…
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China floats idea of ‘Asian yuan’ to reduce reliance on US dollar

October 14, 2022

The proposed distributed ledger technology-backed “Asian yuan” token would supposedly help reduce Asia’s dependence on the U.S. dollar for international business. Researchers from a Chinese state-run think tank have floated the idea of an Asia-wide digital currency with the aim of reducing its reliance on a United States dollar-based economy.  The views of researchers Liu…
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