Connect with us

Asean

Upbeat on ASEAN Economies, Regional currencies to continue gaining

With a little help from China’s strengthening yuan, which makes goods out of Southeast Asia cheaper for Chinese buyers, regional currencies are expected to continue gaining over the next 12 months.

Published

on

asian currencies

The weak US dollar, accelerating inflation and the prospect of higher interest rates have pushed Southeast Asian currencies to their highest levels in years, with some hitting levels not seen since the Asian Financial Crisis wrought economic destruction across the region 13 years ago.

Things in most Southeast Asian economies are looking good compared with the fiscal outlook facing the United States, Europe and Japan. Soft US jobs data, a relapse in Greece and the aftermath of Japan’s catastrophic earthquake are just the latest signals of severe international economic malaise there.

asian currencies

The Asian Development Bank (ADB) has also warned Asian governments must keep a tight rein on inflation and may need to consider controls on incoming capital.

With a little help from China’s strengthening yuan, which makes goods out of Southeast Asia cheaper for Chinese buyers, regional currencies are expected to continue gaining over the next 12 months.

As always, currency fluctuations produce mixed results in a well-rounded economy. In Southeast Asia, prices on foreign goods should fall as purchasing power rises in tandem with the local unit, while the cost of locally made products can rise with inflation feeding into the system.

via Upbeat on ASEAN Economies | ASEAN Beat.

Luke Hunt

Luke Hunt

Luke Hunt is a South-east Asia correspondent for The Diplomat and has worked in journalism for more than 25 years. He has served as bureau chief for Agence France-Presse in Cambodia and in Afghanistan during the Taliban occupation where he was commended by the United Nations for the ‘best and most insightful’ coverage of the Afghan civil war.

Tech

Global fashion e-tailer Shein launches new hub in Singapore

Published

on

Shein has websites for Singapore, Indonesia, Thailand, Vietnam, and the Philippines and has plans to create a standalone website for Malaysia too.

Source link

Continue Reading

Singapore

How Businesses in Singapore can Reduce Overhead Costs During the Pandemic

The government is expected to draw on S$53.7 billion (US$40 billion) from its reserves for this year and an additional S24 billion (US$17.8 billion) over the next three years to assist local companies transition into a post-pandemic business environment.

Published

on

How Businesses in Singapore can Reduce Overhead Costs During the Pandemic

Singapore’s government has provided an array of fiscal and non-fiscal incentives to help businesses reduce their overhead costs during the pandemic.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,162 other subscribers

Wise

Recent