Bangladesh, May 18 -- The US dollars recent surge, particularly against major Asian currencies, has sparked a wave of concern in financial markets. With the Japanese yen teetering on the brink of collapse and China potentially contemplating devaluation, the financial landscape appears precarious. The pressing question is whether anything can be done to stem the greenbacks rise, and if so, whether it should be done.

The yens sharp decline has been particularly alarming. As of the end of April, it had plunged to ¥160 per dollar, marking a 13% drop since the start of the year and over 50% since early 2021. Similarly, the South Korean won has depreciated by about 10% against the dollar in 2023, and the Indonesian rupiah has hit a four-y...