Currencies of Asian countries allied with the United States (US), like the Philippine peso, depreciated the most against the US dollar in October, according to Singapore-based DBS Bank Ltd.
“In Asia, the BRICS currencies—Chinese yuan, Indian rupee, Indonesian rupiah, Malaysian ringgit, and Thai baht—were significantly more resilient than the US-allied currencies such as Japanese yen, South Korean won, and Philippine peso,” DBS Group Research senior foreign exchange (FX) strategist Philip Wee said in a report on Friday,
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