EM ASIA FX-Ringgit at near 6-week high; Asia FX up before Fed decision

Reuters

(Updates prices. For midday report, double click

)

SINGAPORE, Sept 18 (Reuters) - Most emerging Asian

currencies rose on Wednesday with the Malaysian ringgit at near

six-week high as investors bet the U.S. Federal Reserve would

scale back its monetary stimulus only modestly later in the day.

Demand from real money funds lifted the ringgit to

3.2300 per dollar, its strongest since Aug. 12, although the

Malaysian unit pared some gains on importers' dollar demand.

The Thai baht gained with 5- and 10-year government

bonds yields sliding.

Taiwan's dollar advanced as exporters bought it for

settlements before holidays and on views that the U.S. dollar

may fall if the Fed cuts its bond-buying programme by $10

billion as expected.

The Philippine peso hit a near six-week high on

expectations of stock inflows.

But the Indonesian rupiah bucked the trend on

sustained dollar demand from local companies.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0805 GMT

Currency Latest bid Previous day Pct Move

Japan yen 99.09 99.12 +0.03

Sing dlr 1.2592 1.2594 +0.02

Taiwan dlr 29.722 29.760 +0.13

*Korean won 1081.40 1084.10 +0.25

Baht 31.67 31.77 +0.32

Peso 43.53 43.65 +0.28

Rupiah 11512.00 11430.00 -0.71

Rupee 63.16 63.37 +0.33

Ringgit 3.2360 3.2500 +0.43

Yuan 6.1209 6.1215 +0.01

Change so far in 2013

Currency Latest bid End prev year Pct Move

Japan yen 99.09 86.79 -12.41

Sing dlr 1.2592 1.2219 -2.96

Taiwan dlr 29.722 29.136 -1.97

Korean won 1081.40 1070.60 -1.00

Baht 31.67 30.61 -3.35

Peso 43.53 41.05 -5.70

Rupiah 11512.00 9630.00 -16.35

Rupee 63.16 54.99 -12.94

Ringgit 3.2360 3.0580 -5.50

Yuan 6.1209 6.2303 +1.79

* Financial markets in South Korea are closed for holidays.

(Reporting by Jongwoo Cheon; Editing by Anand Basu)

View Comments (0)