✉news BusinessBanking first seen 2 d ago, last 1 d ago, peak #17
Oil-importing Asian currencies under pressure as crude prices climb
Original: Bears maintain grip on oil-importing Asian currencies as crude prices bite
Oil-importing Asian currencies remain under sustained selling pressure as rising crude prices strain the region's trade balances and widen import bills. Markets are watching whether central banks intervene to steady their currencies, with India, Indonesia and the Philippines among the economies most exposed to higher energy costs. Traders say the bearish outlook is likely to persist unless oil prices ease.
Why now: Rising crude prices are squeezing the currencies of Asia's oil-importing economies, prompting concern among investors and policymakers.
Asian currenciesOPECIndiaIndonesiaPhilippines
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