BLBG:Asian Currencies Complete Quarterly Gain as Growth Spurs Inflows
Asian currencies rose this quarter, led by India’s rupee and the Malaysian ringgit, as the world’s fastest economic growth attracted funds to regional assets.
Stock markets in South Korea, India and Taiwan together attracted some $24 billion of overseas funds this year, exchange data show. Asia’s developing economies will expand 7.3 percent this year, outpacing growth of 3.6 percent in Latin America and 1.8 percent in the U.S., according to International Monetary Fund projections published in January. The euro area is forecast to contract 0.5 percent.
Asian currencies rose this quarter, led by India’s rupee and the Malaysian ringgit, as the world’s fastest economic growth attracted funds to regional assets.
Stock markets in South Korea, India and Taiwan together attracted some $24 billion of overseas funds this year, exchange data show. Asia’s developing economies will expand 7.3 percent this year, outpacing growth of 3.6 percent in Latin America and 1.8 percent in the U.S., according to International Monetary Fund projections published in January. The euro area is forecast to contract 0.5 percent.
