Major Asian currencies steadied against the US dollar on Thursday after finance ministers and central bankers voiced their concern with recent depreciation against a resurgent dollar.
The South Korean won rose as much as 1.1 per cent against the dollar to Won1,371.72. The yen strengthened as much as 0.3 per cent to ¥153.96, before weakening beyond the ¥154 line later in the day. Indonesia’s rupiah was up 0.3 per cent against the dollar at Rp16,170. China’s renminbi strengthened 0.04 per cent to Rmb7.24.
The finance ministers of Japan, South Korea and the US said in a joint statement late on Wednesday that they would “continue to consult closely on foreign exchange market developments in line with our existing G20 commitments”.
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