Rising Asian currencies

Bright economic prospects in the Asian region join to boost currency countries in the continent. In fact, the record-a new record of Asian currencies against the U.S. dollar (U.S.) re-created. Yesterday (15.4.2010), the Korean won rose 0.41 percent to KRW 1107.55 per U.S. dollar. Won this is the highest position since 10 September 2008. Then, the rupiah also climbed 0.06 percent to Rp 9.008 per U.S. dollar, or its highest level since July 3, 2007.

If counted from the beginning of this year until yesterday, the ringgit Malaysia is still led the increase in Asian currencies amounted to 7.51 per cent, followed by the rupiah (5.15 percent), Indian rupees (4.69 percent), and Korean won (4.30 percent).

A number of positive news continues to flow from Asia. Government of China announced its economic growth in the first quarter this year reached 11.9 percent. This is the best position since the last two years. Fourth-quarter 2009 on China's economy grew 10.7 percent. Yesterday, China's yuan exchange rate was fairly stable at 6.826 per U.S. dollar.

Bank Mandiri economist, Muhammad Doddy, express, positive sentiment globally still color the strengthening of Asian currencies. For example, the financial crisis that struck the Greeks began to see a bright spot. Namely, the aid commitments from the IMF and the European Union. In addition, retail sales in the U.S. could still rise. Of course this is a signal that the economic recovery began to appear.

Doddy also saw yuan revaluation plan helped lift Asian currencies. "If these go ahead, for example, I think it could make Asian exchange rates continue to rise," he said.

Ruru Dyatmiko, money market observer, seeing an increasingly bright economic prospects so that Asian currencies are still attractive. "In addition rupiah, Korean won also worthy of collection," he said. Therefore, the currency strengthened if it has the potential to be realized yuan revaluation. He guessed, rupiah and the won could rise 20 percent this year.

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