![]() For example, the USD/JPY currency pair denotes how many Japanese yen are required to purchase one USD. ![]() This is where the data and the analytical tools hosted by online forex trading platforms come to the fore. This makes the USD a useful benchmark that can be compared against individual currencies, but that can also be used to compare the performance of countries from across Asia. Virtually every currency in the world can be traded against the USD. The USD also plays a huge part in the forex trading industry, as the dollar is the most common feature in the currency pairs that fill the foreign exchange markets. Given that it drives the world’s largest economy and underpins many smaller national economies, the reach of the US dollar is extensive. ![]() The USD is the world’s dominant currency, so the greenback provides the logical means of comparison. How to compare Asian currenciesĪsia is a vast, heterogeneous region that cannot be treated as a single economic entity, so it is worth identifying three major currencies to represent their part of the continent. Comparing Asian currencies to the US dollar – Asia Times Close Search for:Ģ020 has been a challenging year for economies across the world, with previously strong currencies enduring protracted declines and previously steady currencies succumbing to periods of volatility.Ĭomparing various Asian currencies with the US dollar (USD) can provide an insight into how different parts of the continent have coped with the tough economic conditions throughout the year.īy utilizing the USD as a fixed point of comparison, it becomes easier to see which Asian currencies boast upward mobility and which currencies are understandably stagnating. ![]()
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