China’s renminbi and India’s rupee are seen as the biggest casualties among Asian currencies in the event the UK votes to leave the EU, according to an estimate from Malaysia’s Maybank.
The Japanese yen is widely expected to be the biggest gainer among Asian currencies in the event of a Brexit, with Maybank forecasting a potential 11.7 per cent leap in the largest haven currency. At its current level of ￥104.73, such a move would push the yen towards the ￥94 mark against the dollar.
The renminbi and rupee, meanwhile, could lose up to 5.2 per cent and 5.7 per cent respectively. A decision to leave would probably sharpen pressure on China’s central bank, which last month set the renminbi at a five-year low on the back of a rising dollar.
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