Economics
Asian Currencies Have Seventh Weekly Gain as Growth Lures Funds
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Asian currencies completed a seventh weekly advance, led by the Singapore dollar, as relatively high yields and the world’s fastest economic growth spurred demand for assets in the region’s developing nations.
The Bloomberg-JPMorgan Asia Dollar Index climbed to its highest level since April 2008 on speculation central banks will be more tolerant of currency gains after Singapore said on Oct. 14 it will target faster appreciation in the next six months. Equity funds investing in Asia excluding Japan have taken in more than $1 billion in all but one of the past four weeks, according to data from EPFR Global.