News
Asian Currencies · Currency Depreciation · Energy Crisis · Middle East
Asian currencies, including the Philippine peso and South Korean won, have plunged following the Iran war's start, driven by soaring resource prices from the worsening Middle East situation, which widens currency gaps with resource-rich nations and boosts the dollar.
The energy crisis significantly impacts Asian economies, which are highly dependent on Middle East resources, contrasting sharply with resource-rich countries such as Canada and Australia. This currency depreciation, reported by Shinichi Arakawa and Yuki Fujita on March 28, 2026, carries potential repercussions for the global economy, indicating a shift in economic power and trade dynamics.
