EM ASIA FX-Asia FX takes breather before Fed meeting; rupee up on rate hike
(Updates prices. For midday report, double-click
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SINGAPORE, Oct 29 (Reuters) - Most emerging Asian currencies
eased on Tuesday as investors booked profits before the outcome
of the U.S. Federal Reserve policy meeting this week, while the
Indian rupee turned higher after the central bank raised its
policy rate.
The rupee started the session weaker but reversed
the course as the Reserve Bank of India as expected lifted the
repo rate by 25 basis points to 7.75 percent to
combat stubborn inflation.
Indonesia's rupiah, however, led slides among
emerging Asian currencies, as foreign banks sold local bonds and
on month-end dollar demand from local corporates.
The Malaysian ringgit eased as some hedge funds
took profits from its gains after the government announced
budget measures on Friday to ease its fiscal gap.
The Philippine peso weakened on dollar bids from
domestic companies and as local interbank speculators covered
short dollar positions ahead of the Fed's two-day policy meeting
starting later in the day.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0800 GMT
Currency Latest bid Previous day Pct Move
Japan yen 97.47 97.67 +0.21
Sing dlr 1.2382 1.2375 -0.06
Taiwan dlr 29.456 29.460 +0.01
Korean won 1060.42 1061.10 +0.06
Baht 31.03 31.07 +0.11
Peso 43.15 43.05 -0.23
Rupiah 11095.00 11048.00 -0.42
Rupee 61.47 61.52 +0.09
Ringgit 3.1410 3.1355 -0.18
Yuan 6.0897 6.0855 -0.07
Change so far in 2013
Currency Latest bid End prev year Pct Move
Japan yen 97.47 86.79 -10.96
Sing dlr 1.2382 1.2219 -1.32
Taiwan dlr 29.456 29.136 -1.09
Korean won 1060.42 1070.60 +0.96
Baht 31.03 30.61 -1.35
Peso 43.15 41.05 -4.87
Rupiah 11095.00 9630.00 -13.20
Rupee 61.47 54.99 -10.53
Ringgit 3.1410 3.0580 -2.64
Yuan 6.0897 6.2303 +2.31
(Reporting by Jongwoo Cheon; Editing by Kim Coghill)