Skip to content
Subscriber Only

Every Southeast Asian Currency Gained in June — But They Can’t Catch Philippine Peso

  • Only Philippine peso rises vs USD among regional peers in 1H
  • Rupiah rebounds on inflows, Baht constrained by central bank
Indonesian Rupiah, Indian Rupee And Filippino Peso As Gloom Lifting From Asia's Emerging Currencies After Rate Hikes
Photographer: Brent Lewin/Bloomberg

June is shaping up to be a good month for Southeast Asia’s currencies, with every one gaining.

The rebound is narrowing coronavirus-induced losses sustained by just about every foreign exchange in the region this year. While the Indonesian rupiah, Thai baht and Malaysian ringgit all showed improvement, the Philippine peso is by far the best-performing currency in 2020 with its 1% gain.