JAKARTA/MUMBAI -- Asian currencies have taken a beating in 2018 from rising U.S. interest rates and investors' growing wariness of emerging market assets. This week both the Indian rupee and Indonesian rupiah hit fresh lows against the U.S. dollar, digging a big hole for Asian companies that have heavy dollar-denominated debt.
In India, the rupee has been Asia's worst performing currency this year, depreciating as much as 13.9% against the greenback. On Thursday, it fell to an all-time low of 74.48 to the dollar during trading.
