Asian Currencies Might Under-Perform Against USD in Q3 of 2020

Asian Currencies Might Under-Perform Against USD in Q3 of 2020

Some of these currencies are likely to regain lost ground in the latter part of 2020, they say.. Adeeb Ahamed, managing director of Lulu Financial Group, sees the Indian rupee hitting 21 versus the UAE dirham in the third quarter from the current 20.76 level, but believes it could recover to 20.40 in the fourth quarter.. Ahamed sees the Bangladeshi taka dropping from 23.13 to 23.95 in the third quarter but recovering to 22.9 in Q4 while the Philippine peso could dip to 14.30 versus the dirham in Q3 and regain some lost ground at around 13.25.. Sri Lankan rupee will continue to be volatile and is likely to slump to 54.35 versus dirham from its current level of 50.4.. With Bangladesh economy likely to see decent growth taka will continue to be steady as Dhaka maintains a close control over its exchange rate..