Energy crisis hits currencies of Asian economies reliant on Middle East
Currencies
Philippine peso and South Korean won plunge, while dollar soars
Asian currencies have slumped in the month since the start of the Iran war. (Photo by Akira Kodaka)
SHINICHI ARAKAWA and YUKI FUJITA
TOKYO/MANILA — Soaring resource prices due to the worsening situation in the Middle East are widening the gaps between currencies of Asia — which is highly dependent on the region — and of resource-rich countries like Canada and Australia, with potential repercussions for the global economy.
