EM ASIA FX-Asia FX takes breather before Fed meeting; rupee up on rate hike

Reuters

(Updates prices. For midday report, double-click

)

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)

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