Foreign investment driving Asian currency gains
The Australia dollar has risen more than 11% against the US dollar since October last year. And it is not the only Asian currency on the rise. The South Korean won gained almost 7% during the same period against the dollar.
But the Japanese yen has fallen by more than 6% since October. This was after interventions by Japan's central bank to weaken its currency. However, exporters say it is still too high.
Stuart Oakley, of the Royal Bank of Scotland in Singapore, says that foreign investment has been behind some of the gains in Asian currencies.
06 Mar 2012
- From the section Business