Among 10 currencies in Asia, which currency performed the best and which one performed the worst in the first 9 months of the year?
The year 2017 has been a volatile year for most Asian currencies, impacted by regional and global concerns, including the North Korea nuclear threat, US President Donald Trump’s “America First” foreign policy, Brexit and European region instability, among others, and heightened by local uncertainties within each country.
Still, seven (7) out of 10 Asian currencies appreciated in value versus the US dollar, while three currencies suffered depreciation. Among these 10 currencies, the Thai Baht appreciated the highest while the Philippine Peso was the weakest versus the US Dollar from January to September 2017.
Best Performing Currency: Thai Baht
Thailand’s baht currency appreciated the most versus the US Dollar compared to its regional counterparts. As of September 28, 2017, the baht was trading at 33.41 THB to the dollar, a surge of +6.77% from its level in January.
The Taiwanese Dollar trails the baht in performance, rising by +6% from January to September this year. It closed trading yesterday at 30.39 TWD to the US dollar.
Other currencies that appreciated versus the US Dollar include the Singapore Dollar (up +5.92%), the Malaysian Ringgit (up +5.71%), and the South Korean Won (up 4.71%).
Worst Performing Currency: Philippine Peso
The region’s worst performer is the Philippine Peso, depreciating by -2.69% from January to September. It closed at PHP 50.94 versus the US Dollar yesterday.
Other currencies in the region that experienced depreciation vs. the US dollar include the Hong Kong Dollar, down -0.69%, and the Indonesian Rupiah, down -0.16%, year to date.
Performance of Asian Currencies vs. US Dollar, Jan-Sept 2017
Here’s a comparative summary of how 10 Asian currencies performed versus the US Dollar in the first 9 months of the year.
|CURRENCY||SYMBOL||Jan. 2, 2017 USD Exchange Rate||Sept. 28, 2017 USD Exchange Rate||Year-to-Date Appreciation (Depreciation)|
|9||Hong Kong Dollar||HKD||7.76||7.81||-0.69%|
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