Asian Currencies Complete Best Week Since January on BOJ Easing
This article is for subscribers only.
Thailand’s baht and Malaysia’s ringgit led Asian currency gains to the best week since January on speculation Japan’s monetary easing will increase the flow of funds into emerging-market assets.
The baht strengthened beyond 29 per dollar for the first time since 1997 and the ringgit appreciated for a fourth week, the longest run in 14 months. South Korea’s won rose this week after touching an eight-month low on the risk of a nuclear test or missile launch by North Korea. The Bank of Japan said April 4 it plans to buy 7.5 trillion yen ($75 billion) of bonds a month in the biggest move since its easing started in 2001.