As Asian Currencies Lose Value, Can Governments Avoid a Crisis?

But experts say governments are managing the losses better than they did in the past.
但是专家表示,政府比过去更好地管控了这一损失。

The currencies of China, India, Indonesia and Myanmar all have lost value since January of 2018. The Indian rupee was at a record low against the U.S. dollar in June. And the Chinese yuan lost 3.2 percent in the first half of the year.
自2018年1月以来,中国、印度、印尼以及缅甸货币都有所贬值。印度卢比在今年6月份兑美元汇率创下了历史新低。人民币汇率在上半年下跌了3.2%。

Economists say there are many reasons for this, including possible contagion from financial problems in Turkey. They also say investors are worried about the effects of the trade dispute between the United States and China.
经济学家表示,这有许多原因,包括土耳其经济问题可能蔓延。他们还表示投资者担心中美贸易争端的影响。

Next week, China will face additional U.S. tariffs on $16 billion-worth of Chinese products.
下周,中国价值160亿美元的商品将面临美国额外征收的关税。

Song Seng Wun is an economist with investment bank CIMB in Singapore. He said, "It's just basically that everything we've worried about now and then sort of converged."
宋诚焕(Song Seng Wun)是新加坡联昌国际银行(CIMB)的经济学家。他表示,“基本上我们时常担心的问题都凑到一起了。”

Why are Asian currencies losing value?
亚洲货币为何贬值?

Experts say there is no single reason currency exchange values are lower in Asia. Rising oil prices may have affected the Indian rupee for example. Myanmar has had large growth in imported products.
专家表示,亚洲货币汇率贬值并不是单一原因造成的。例如,石油价格不断上涨可能影响到了印度卢比,而缅甸的进口产品大幅增长。

In Vietnam, Bao Viet Securities, a financial business, said Vietnam's currency has lost value because the value of the currencies of neighboring countries have gone down.
在越南,保越证券(Bao Viet Securities)表示,越南货币贬值是因为邻国货币贬值。

But it is the fall of Turkey's lira and the possibility that it could bring down other currencies that has caused problems in Asian currency markets, Song said.
但是宋诚焕表示,是土耳其货币里拉的下跌以及可能拖累其它货币给亚洲货币市场造成了麻烦。

The continuing trade dispute between the U.S. and China is another reason for the currency problems.
中美之间持续的贸易争端也是货币问题的另一个原因。

Some media reports have said that the U.S.-China trade war has caused investors in India to move away from local stocks and similar assets.
一些媒体报道称,中美贸易战已经导致印度投资者抛弃本国股票和类似资产。

Maxfield Brown is an expert with the business services company Dezan Shira & Associates. He spoke about the exchange value of Vietnam's currency.
麦克斯菲尔德·布朗(Maxfield Brown)是协理管理咨询公司(Dezan Shira & Associates)的一名专家。他谈到了越南货币的汇率。

"I think there's a number of reasons why it could be going down," he said.
他说:“我认为有很多原因导致越南货币贬值。”

Brown said Vietnamese officials are frightened about recent U.S. and Chinese actions and everyone is being cautious.
布朗表示,越南官员对中美之间最近采取的行动感到害怕,每个人都持谨慎态度。”

Learning from mistakes in the past
从过去的错误中吸取教训

Financial officials of some Asian governments have answered market uncertainty by raising interest rates. Raising rates usually increases the exchange value of a currency.
一些亚洲国家的财政官员通过提高利率来应对市场的不确定性。提高利率通常会提升货币汇率。

Indonesia has raised important interest rates four times in three months. India and the Philippines have also raised rates.
印尼在过去三个月里加息了四次。印度和菲律宾也提高了利率。

Asian countries are keeping more foreign currency in their banks and trying to lessen national debts, said Marie Diron. She is a director of Moody's Investor Services in Singapore.
穆迪投资者服务公司(Moody 's Investors Service)驻新加坡负责人玛丽·迪隆(Marie Diron)表示,亚洲国家正在加大外汇储备并试图降低国债。

She said actions like raising rates help to control falls in currency values.
她说,提高利率等措施有助于控制汇率下跌。

In Vietnam, government officials learned from bad currency decisions in the past and now their answers are "measured," Brown said.
布朗表示,越南政府官员从过去的不良货币决策中吸取了教训,现在他们是“有节制地”应对。

The French investment bank Narixis said Friday that China will likely take measures to support the economy. These actions should also help calm international financial markets.
法国外贸投资银行(Narixis)周五表示,中国可能会采取措施支持经济。这些举动也有助于稳定国际金融市场。

Most economists agree this is not a time of crisis. Asian currency falls are not a threat to the world's economy, Song said.
大多数经济学家认同现在没有危机。宋诚焕表示,亚洲货币贬值不会对世界经济构成威胁。