(Bloomberg) -- Asian currencies slid on speculation
investors were selling emerging-market assets as losses related
to U.S. subprime mortgages worsen.
The Philippine peso, the third-best performer in the region
this year after the Thai baht and Indian rupee, led losses as
Bear Stearns & Cos. yesterday halted redemptions from a third
hedge fund. The South Korean won weakened as Finance Minister
Kwon Okyu told CNBC its appreciation has affected the economy and
the government is ready to take action if necessary.
Read more at Bloomberg Currencies News
investors were selling emerging-market assets as losses related
to U.S. subprime mortgages worsen.
The Philippine peso, the third-best performer in the region
this year after the Thai baht and Indian rupee, led losses as
Bear Stearns & Cos. yesterday halted redemptions from a third
hedge fund. The South Korean won weakened as Finance Minister
Kwon Okyu told CNBC its appreciation has affected the economy and
the government is ready to take action if necessary.
Read more at Bloomberg Currencies News
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