As a symbol of how the US punches above its weight, nothing beats the pre-eminence of its currency. The US may account for just a fifth of global gross domestic product, but dollar assets make up three times as great a proportion of global reserves.
PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Speculation that the Malaysian ringgit will continue to weaken has led many Malaysians to stock up on United States and Singapore dollars in the hopes of a profitable cashout in the near future.
The U.S. dollar also helped relieve the pressure, with it pegged back by another bout of weak U.S. data on Monday. Raw material reliant Canadian and Australian dollars both got lifts, alongside Russia's rouble and other emerging FX.
Mumbai: The Indian rupee on Tuesday strengthened against the US dollar after the Reserve Bank of India (RBI) kept its policy rates unchanged and said more foreign investors will be allowed in the Indian debt market.