Asia Rising - Asian Currencies Continue to Rise Against The USD

By Herbert Poenisch

December 2011 UTTER ECONOMICS
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THE UNIMAGINABLE happened when in early August this year the MYR-USD exchange rate dipped below RM3! The good news is that this is happening not only in Malaysia but in most countries in the Association of Southeast Asian Nations (Asean) region (see Figure 1). Relatively speaking, comparing Malaysia to our peers, we are not too exposed. However, compared with the major markets in advanced economies, where the USD is used as an invoicing currency, Malaysian goods and services are becoming...

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Herbert Poenisch

is a retired senior economist at the Bank for International Settlements.

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