Asian Currencies Fall as European Debt Crisis-Affected

Asian currencies fell this week, the Indonesian rupiah suffered the biggest shiftsince June 2009, when fears of Europe's debt crisis will worsen in the currency market.


Index Bloomberg-JPMorgan Asia dollar touched a five-month lows on Sept. 15 asglobal funds attracted more than $ 2 billion of equity in South Korea, Taiwan andIndonesia since late last week. Asian Development Bank this week slashed its growth forecast 2011untuk region excluding Japan to 7.5%, 7.8% from the Aprilforecast.

Asia Dollar Index slumped 0.7% this week to 117.56 yesterday, according to data compiled by Bloomberg. The rupiah fell 2.4% to 8800 and South Korea's won fell3.1% to 1,112.10 per dollar, the worst performance. Indian rupee fell 1.5% to47.2650, Malaysian ringgit fell 2.3% to 3.08 and the Taiwan dollar fell 1.2% to NT$ 29.584. Losses for the won, rupee, ringgit and Taiwan dollar were the worstsince the mid-2010