Economists and academics will long ponder why east Asia’s currencies have depreciated so much. Euromoney thinks it may have found the answer – perhaps each country is trying to outdo the others for the title of cheapest currency in Asia.
The light dawned when the national football teams of Thailand and Indonesia were drawn against each other in the recent Asean Tiger Cup competition. In a farcical display of contrariness that left spectators (or should that be speculators) dumbfounded, neither side wanted to win – to do so would have meant playing champions Vietnam in the semi-finals; the loser would take on the weaker Singapore.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
