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Asian currencies fall on share sales

Posted on 23 October 2008

From Business-standard.com: Asian currencies fell against the greenback, led by South Korea’s won and Indonesia’s rupiah, on concern that a deepening global economic slump would curb demand for the region’s equities and exports.

The won, Asia’s worst performer this year with a 32 per cent loss, slumped as global funds cut holdings of local stocks. All of the 10 most-active Asian currencies outside Japan dropped as shares tumbled across the region, extending a global stocks rout that has wiped out more than $10 trillion of market value worldwide in the past month….. Full Article: Source


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