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Asia’s currency rollercoaster creates winners and losers

Posted on 07 March 2014

Radical central bank policies in the US and Japan have buffeted Asian currencies in the past 12 months, wiping 15 per cent off the Indian rupee, 10 per cent off the yen and a fifth off the Indonesian rupiah. But they have also created some unlikely winners and losers, from Indonesian cattle farmers to Japanese bath house owners.
The widening of South Korea’s kimchi deficit – which sees the country import more of its national dish than it sells abroad – and the growing queues at Japanese theme parks are both manifestations of Abenomics, the pro-growth policies championed by Shinzo Abe, Japan’s prime minister, that began with easy money and a devaluation in the yen………………………………………..Full Article: Source


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