The horrible truth about exchange rates

Article Abstract:

A survey of economists for their opinions about the recent currency devaluations made by Asian governments yielded a consensus that the devaluations were unnecessary as the Asian economy is fundamentally sound. The Asian economies exports are still broadly competitive, though export earnings have become cyclical. The devaluations were blamed on the problems of implementing foreign exchange rates pegged to the US dollar.

Functions related to deposit banking, Foreign Exchange Dealers, Commodity Contracts Dealing, Financial services industry, Financial services, Foreign exchange rates, Asia, East Asia, Currency devaluation, Devaluation (Currency), Foreign exchange market

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Surmounting the odds

Article Abstract:

The Filipino peso depreciated sharply in the wake of the devaluation of the Thai bhat despite the central bank of the Philippines' attempt to bolster the currency by spending $2 billion of the country's reserves. The Filipino peso was the victim of speculation. However, central bank governor Gabriel Singson believes the speculators were in error as the Philippines' economic fundamentals are sound.

Philippines, Peso (Philippines)

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Head-to-Head with Donald Tsang

Article Abstract:

Interviewee Donald Tsang, Hong Kong's financial secretary, is asked about the value of the renminbi, the linked exchange rate, and the future of Hong Kong and of Asia as a whole. Among Tsang's views are that devaluation of the renminbi is unnecessary and that Asia will be a major area of growth in the next century.

Hong Kong, Statistical Data Included, Management, Interview, Tsang, Donald

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