ASEAN currencies prove they’re not as vulnerable as you think
Typically regarded as the more vulnerable currencies in Asia to external shocks, the ringgit, baht, and rupiah are proving the most resilient on their relatively lower exposure to China and a dovish Federal Reserve.
The Malaysian, Thai and Indonesian exchange rates are the top three performers among Asia’s emerging markets over three months. That’s a reversal of fortune from 2013’s taper tantrum when they trailed their northern counterparts as the U.S. central bank indicated it would wind down unprecedented stimulus.
