Currency Brief: Indonesian Rupiah Surges, Chinese Yuan Edges Down in June

Most of the currencies relevant to apparel remained stable in June, with a few significant exceptions.

The euro rose slightly against the U.S. dollar in the month, to $1.37, improving its year-to-date decline to only 0.86%, though up 4.4% compared to this time last year.


The pound jumped 1.8% against the U.S. dollar in the month, to $1.70, bringing its year-to-date increase to 4.36% and its year-on-year gain to almost 12 percent.


The Indian rupee has strengthened considerably since the country’s national election in May, rising 1.8% in June, tempering its year-to-date slide to 3.2%.


The Indonesian rupiah surged by over 3 percent in June, 20 percent higher than this time last year, though still down 1 percent on a year-to-date basis.


Although almost flat in June compared to May, the Pakistani rupee has had a volatile ride in 2013, down almost 8 percent for the first half of this year.


The Chinese yuan dipped against the dollar, reversing course from last month, finishing the month down almost 0.3% compared to May and 0.5% higher for the year so far.


Movements in the Bangladeshi taka and Vietnamese dong tend to be very small since both are pegged, though somewhat loosely in the case of the dong, against the dollar.




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