South Korea’s won will weaken 1.7 percent by year-end, following its best quarter in two years, as gains arising from global monetary easing fade and slower growth crimps exports, the most accurate forecasters say.
India’s rupee and Malaysia’s ringgit will lead declines in Asian currencies this quarter as the global slowdown damps export demand, according to Oversea- Chinese Banking Corp., the most-accurate forecaster.
Indonesia’s rupiah and South Korea’s won will lead Asian currency gains for the rest of 2011 as central banks use appreciation to counter inflation, says Credit Suisse Group AG, the region’s most-accurate forecaster.
Japan’s economy grew less than forecast in the first quarter as an export-led recovery failed to stoke consumer spending, putting pressure on the central bank to do more to end deflation as it begins a two-day meeting.
Asian currencies will extend their biggest slide in three years through December before rebounding in early 2012 as export demand picks up, said Standard Chartered Plc, the most-accurate forecaster for the region.