EM ASIA FX-Asia FX rise on US debt deal hopes, rupiah jumps

Reuters

(Updates levels, for earlier report, double-click on

)

SINGAPORE, Oct 11 (Reuters) - The Indonesian rupiah surged

more than 1 percent and Asian currencies rose broadly on Friday

as risk sentiment improved on growing hopes for a deal in

Washington to end a fiscal standoff and avert a U.S. default.

Most emerging Asian currencies pushed higher, with the

rupiah climbing 1.1 percent and the Malaysian ringgit

0.4 percent.

A Jakarta-based trader said foreign players were the main

sellers of the U.S. dollar against the rupiah on Friday, adding

that he thought there were some inflows into Indonesian equities

and bonds. Jakarta shares were up about 0.9 percent.

Besides being the day's top performer, the rupiah was on

track to outperform regional peers for the week. The currency

was up about 1.3 percent, which would be its biggest weekly

percentage gain since January 2012.

Elsewhere, the Indian rupee was headed for a weekly gain of

about 0.2 percent, while most other Asian currencies

were either slightly lower for the week or about flat.

In the U.S., Republicans offered a plan to President Barack

Obama on Thursday that would extend the government's borrowing

authority for several weeks, staving off a default that could

come as soon as Oct. 17.

No deal emerged from a 90-minute meeting at the White House,

but talks continued in an effort to reopen the government and

extend its borrowing authority beyond the mid-October deadline.

The Singapore dollar held steady and lagged its

regional peers, as investors awaited a monetary policy decision

by Singapore's central bank and data on Singapore's

third-quarter gross domestic product due on Monday.

The Monetary Authority of Singapore (MAS) is expected to

keep monetary policy unchanged as it stays on guard against

inflation, while an expected contraction in third-quarter GDP is

likely to be seen as a temporary blip.

The MAS is likely to let the local dollar keep appreciating

at its current trajectory, according to a Reuters survey of

economists.

CURRENCIES VS U.S. DOLLAR

* Taiwan dollar's previous close is from Oct. 9. Taiwan's

financial markets were closed on Thursday for a public holiday.

Change on the day at 0759 GMT

Currency Latest bid Previous day Pct Move

Japan yen 98.28 98.16 -0.12

Sing dlr 1.2472 1.2481 +0.07

Taiwan dlr 29.405 29.548 +0.49

Korean won 1070.87 1073.60 +0.25

Baht 31.29 31.40 +0.35

Peso 43.12 43.15 +0.07

Rupiah 11355.00 11480.00 +1.10

Rupee 61.27 61.39 +0.20

Ringgit 3.1780 3.1915 +0.42

Yuan 6.1177 6.1158 -0.03

Change so far in

2013

Currency Latest bid End prev year Pct Move

Japan yen 98.28 86.79 -11.69

Sing dlr 1.2472 1.2219 -2.03

Taiwan dlr 29.405 29.136 -0.91

Korean won 1070.87 1070.60 -0.03

Baht 31.29 30.61 -2.17

Peso 43.12 41.05 -4.80

Rupiah 11355.00 9630.00 -15.19

Rupee 61.27 54.99 -10.25

Ringgit 3.1780 3.0580 -3.78

Yuan 6.1177 6.2303 +1.84

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(Editing by Richard Borsuk)

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