Currency systems

Will ‘Sell America’ end the dollar’s hegemony?

State and market-led pressure to de-dollarise could become mutually reinforcing, accelerating the erosion of the greenback dominance

The Swiss National Bank wears the scars of several fierce market battles over the years, generally not of its own making.

The frank warning from Switzerland on the US dollar

If the greenback continues to slide with cuts in interest rates, countries will be forced to take action

The yen could be cheap because investors are worried about the danger that Japan will lose its fiscal and monetary credibility.
THE BROAD VIEW

The weak yen and the weakening US dollar are signs of financial fragility

But neither Japan nor America should meddle with exchange rates

Aside from Singapore, other economies on the watch list are China, Japan, South Korea, Taiwan, Vietnam, Germany, Ireland, Switzerland and Thailand.

Singapore, Vietnam remain on US Treasury’s currency watch list; Thailand added

Report classifies city-state as an outlier as it is the only nation on the list running a bilateral trade deficit with America

The big concern for Washington about sowing seeds of a US dollar devaluation is what that may mean for the stability of gigantic net foreign ownership of US assets.

Be careful what you wish for on a weaker US dollar

The greenback’s index against the most-traded currencies has dropped to its weakest since early 2022 – worse could happen yet

The rupiah has hovered around 16,600 against the US dollar and weakened by more than 3% in the year to date, making it one of Asia’s weakest currencies.

Weak rupiah, capital outflows could complicate Indonesia’s redenomination plan: analysts

The country’s plan to simplify the rupiah’s nominal value has resurfaced repeatedly over the past decade

Finance Minister Ekniti Nitithanprapas also told reporters that the government would put illicit fund movements under more scrutiny by December.

Thailand did not manipulate currency, finance minister says

He says there are tools to manage the currency without resorting to intervention

Brics currencies have been mentioned, but a common Brics currency backed by gold was off the agenda at the July Brics summit in Rio de Janeiro.

Brics currencies are no realistic alternative to the US dollar

Discussions about de-dollarisation fall short when it comes to finding a credible replacement

Set up as a public-private partnership, Lao Bullion Bank currently operates out of a five-storey building in the capital, Vientiane.

Gold-rich Laos hits mother lode with S-E Asia’s first bullion bank amid inflation, currency blues

Lao Bullion Bank offers traditional deposit, withdrawal and transfer services, alongside unique offerings such as gold vending machines, certificates that can be used as collateral

A Bloomberg index of the Thai baht, Malaysian ringgit, Indonesian rupiah, Philippine peso and Singapore dollar has jumped more than 4 per cent in August, its best monthly performance since at least 2015.

Momentum gauge signals risk to South-east Asia currency rally

The Relative Strength Index for a regional gauge has breached 80, well above levels in which a currency is typically considered overbought