Asian currencies vs. US Dollar – 1st Half 2012

The Philippine Peso (PHP) led other Asian currencies in terms of appreciation against the U.S. Dollar in the second half of 2012, rising 4.51% versus the greenback.

The local currency closed at P41.91 against the dollar on increased foreign appetite for the Peso and easing economic concerns. One of the country’s recent economic gains is the upgrade by Standard & Poor’s (S&P) of the Philippines’ long-term foreign currency rating from BB to BB+, just one notch below investment grade.

(See related article: Credit Ratings by S&P, Moody’s, and Fitch Ratings)

Other regional currencies have mixed performance against the U.S. Dollar.

The New Zealand Dollar (NZD), Brunei Dollar (BND), and Singapore Dollar (SGD) all rose more than 2% against the U.S. greenback.

Meanwhile, the Indian Rupee (INR), Japanese Yen (JPY), Indonesian Rupiah (IDR), and Chinese Yuan Renminbi (CNY) depreciated in value during the first two quarters of 2012.

Below is a table summarizing the year-to-date performance of Asian currencies versus the U.S. Dollar.


1 thought on “Asian currencies vs. US Dollar – 1st Half 2012”

  1. Leeanna Tweedie

    I drop a comment every time I like a post on a web-site or if I have something to valuable to contribute into the conversation. It’s a result of your fire communicated in the post I browsed. And after reading this post I used to be actually moved enough to drop a comment here

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top