Economics
Asian Currencies Weaken Most Since September on Europe, China
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Asian currencies had the biggest monthly loss since September as China’s economy slowed and a banking crisis in Spain curbed appetite for emerging-market assets.
The Bloomberg-JPMorgan Asia Dollar Index lost 2.7 percent since April 30 as global funds pulled $7.8 billion from South Korean, Taiwanese and Indonesian stocks, exchange data show. India’s rupee led losses, reaching a record low today as the government said the economy grew 5.3 percent last quarter, the smallest gain in nine years. Indonesia’s rupiah fell to the weakest level since November 2009 while China’s yuan and Malaysia’s ringgit both touched their lowest levels this year.