Asian currencies fell yesterday, highlighting the pressure wrought by a stronger US dollar as the US Federal Reserve races ahead with interest rate hikes.
The New Taiwan dollar declined against the US dollar, dropping NT$0.075 to close at NT$29.790 — an almost one-month low.
The Indian rupee declined to a record low of 78.29 rupees per US dollar, while the Philippine peso dropped as much as 0.7 percent to 54.635 pesos, its weakest level since November 2005.
The South Korean won slid to a 13-year low of 1,297.85 won versus the greenback.
In Hong Kong, the monetary authority has bought HK$78.1 billion