Reported about 11 hours ago
Recent unexpected interest rate cuts by Indonesia and indications of weakening currency management by India's Reserve Bank signal that Asian central banks are struggling to defend their currencies against the strong U.S. dollar. Historically reliant on foreign currency reserves, these banks now face pressures from sluggish growth and potential U.S. tariffs, leading them to prioritize economic support over currency stabilization. Market uncertainty prevails as key rate decisions loom in the region, with expectations of depreciation in Asian currencies driven by a shift towards rate cuts.
Source: YAHOO