SE Asian currencies jump in June, peso leadsJune is shaping up to be a good month for Southeast Asia’s currencies, with every one gaining. 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. The rupiah, which has surged 15% this quarter, may be positioned to challenge the peso given strong foreign demand for the nation’s debt. The central bank is expected to keep rates unchanged after slashing rates by 125 basis points this year. That’s likely to support the MAS’ current stance of allowing for a weaker currency to spur the trade-reliant economy.

Source: Bangkok Post June 22, 2020 03:56 UTC