Is an ASEAN currency crisis looming?
The rumblings of a currency crisis are being heard in emerging markets and are only getting louder. Argentina’s Central Bank raised interest rates to 40 per cent to protect its peso in May 2018. When this did little to help, Argentina took out a US$50 billion credit line from the International Monetary Fund (IMF). Turkey stated in August 2018 that more than 35 per cent of the value of its lira had vanished against the US dollar since the beginning of the year. And in India, pressure is also building up against its currency, which has slipped to a record low. Will these trends spark a currency contagion in emerging markets? ASEAN was spared full-blown impact in the 2007–08 global financial crisis. But can it remain immune next time around? On the one hand, ASEAN is seen as a region of economic opportunity and attracts substantial capital inflows. Average GDP... If you wish to read this full breaking news headline article, Is an ASEAN currency crisis looming?, simply click on 'Read full story' below, but 1st please give 'Phuket Hotel Deals' a 'LIKE' or 'SHARE' before you visit 'Thailand Business News'. Thank you