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Export growth brings currency headaches for Asia

Central banks and governments gear up to tackle painful currency appreciation

A cashier stacks bank notes at a bank in Chandigarh, India. The rupee is at a two-year high, posing a threat to manufacturing.   © Reuters

SINGAPORE/MUMBAI -- Pasir Panjang, a port in southern Singapore, is bustling with activity. Total container throughput in August rose 9.9% on the year to 2.94 million TEUs (twenty-foot equivalent units), according to the Maritime and Port Authority of Singapore. This puts the city-state on track for its highest annual container-handling volume since 2014.

The robust business at Southeast Asia's logistics hub reflects the region's economic recovery. The combined export volume of Singapore, Thailand, Malaysia, Indonesia, the Philippines and Vietnam grew 18.5% on the year in July, data from NLI Research Institute shows.

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