Dollar's Surge Triggers Market Interventions as Asian Currencies Tumble The U.S. dollar’s resurgence significantly impacted emerging-market currencies, particularly after China’s decision to lower its yuan reference rate. This move intensified selling pressures across Asia, notably affecting the Indonesian rupiah, Indian rupee, and South Korean won. The ripple effect of the dollar’s strength was felt globally, driving a key index of emerging-market currencies to annual lows and causing corresponding declines in stock markets. In response to severe depreciations, Bank Indonesia intervened to support the rupiah as it crossed 16,000 per dollar for the first time in four years, and South Korean authorities warned against the economic risks of rapid currency fluctuations. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Singapore’s central bank MAS boosts gold reserves to nearly 200 tonnes READ MORE US Debt Interest to Eclipse Defense Spending READ MORE Signs of an Impending 2024 Recession, Says Citi's Top Economist READ MORE Global IT Outage Causes Financial Chaos and Delays READ MORE Julian Assange & the Polarization of Prosperity and Freedom READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment