# Southeast Asian Currencies End the Year on a High Note – The Diplomat

> Southeast Asian currencies, many of which fell sharply in 2022 as the Fed tightened, were closing the year considerably stronger against the dollar. Central banks in Indonesia and elsewhere raised rates and drew on reserves to defend their currencies.

- Date: 2022-12-28 · published 2022-12-28T12:00:00.000Z
- Category: macro · region Southeast Asia · magnitude low
- Page: https://feedsoft.ai/events/38475-southeast-asian-currencies-end-the-year-on-a-high-note-the-diplomat
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger regional currencies lower the local cost of imported feed ingredients, and expectations of a less aggressive Fed in 2023 support a firmer outlook for regional demand.

## Read by commodity

- DXY: bearish ▼
- USDIDR: bearish ▼
- USDMYR: bearish ▼
- USDTHB: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-12-31 | [South African rand ends 2025 on high note, gains nearly 13% on the dollar \| Reuters](https://feedsoft.ai/events/21773-south-african-rand-ends-2025-on-high-note-gains-nearly-13-on-the-dollar-reuters.md) | +0.3% | -1.7% |
| DXY | 2025-04-29 | [Asian Currencies Climb As US Dollar Feels The Heat - Finimize](https://feedsoft.ai/events/25388-asian-currencies-climb-as-us-dollar-feels-the-heat-finimize.md) | -0.4% | -0.9% |
| DXY | 2025-09-17 | [Ringgit ends near one-year high vs US$ on Fed cut hopes \| The Star](https://feedsoft.ai/events/23162-ringgit-ends-near-one-year-high-vs-us-on-fed-cut-hopes-the-star.md) | +0.4% | +1.5% |
| DXY | 2025-07-31 | [South-east Asia's key currencies set to strengthen in H2 2025 despite rate cuts - The Business Times](https://feedsoft.ai/events/24032-south-east-asia-s-key-currencies-set-to-strengthen-in-h2-2025-despite-rate-cuts.md) | -0.7% | -0.6% |
| DXY | 2023-03-13 | [Thai baht climbs as Asian currencies gain on weak US dollar](https://feedsoft.ai/events/37133-thai-baht-climbs-as-asian-currencies-gain-on-weak-us-dollar.md) | +0.3% | -1.6% |

## Sources

- thediplomat.com: https://thediplomat.com/2022/12/southeast-asian-currencies-end-the-year-on-a-high-note/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.