[SINGAPORE] The ringgit, crowned the worst performer in emerging Asia two years ago, is now giving its Asian counterparts a run for their money as its winning streak against the greenback inches towards a four-year record.
Behind the Malaysian currency’s outperformance lies a more muted regional showing: The Philippine peso is charting a fresh nadir against the US dollar; the dong deepens its decline, repeatedly breaching record lows; and the battered rupiah persists down a volatile slide.
The East Asian currencies fared rosier in their year-to-date performance against the US dollar – until the won and yen entered the final quarter on a downtrend that is threatening their slim gains for the year.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
