(Updates prices. For midday story, double-click
SINGAPORE, Sept 10 (Reuters) - The Indian rupee led rises
among emerging Asian currencies on Tuesday as
stronger-than-expected China data fuelled more hopes of a
stabilisation in the world's second-largest economy.
China's factory output grew at its fastest pace in 17 months
while investment and consumption beat market forecasts,
increasing confidence among investors that the economy has
halted a slide and is building some momentum.
Regional currencies found further support from easing
concerns of a U.S. military strike against Syria, which saw
crude oil prices retreat.
The rupee hit a two-week high on expectations of a
narrower trade deficit and hopes for more market-friendly
measures from the new central bank chief Raghuram Rajan.
The Philippine peso touched its highest in more
than three weeks on demand from real money funds after solid
July exports data.
The Malaysian ringgit advanced on short-covering
against both the U.S. dollar and the Singapore dollar
Continuous stock inflows and exporter demand lifted the
South Korean won to its highest since Feb. 28.
The Taiwan dollar hit a three-month high on foreign
financial inflows for domestic equities.
But those currencies gave up some of their initial gains as
foreign exchange authorities were spotted intervening to stem
gains, traders said.
Meanwhile, the Indonesian rupiah's indicative prices
lost nearly 3 percent to its weakest since April 2009 on dollar
demand from local companies.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0800 GMT
Currency Latest bid Previous day Pct Move
Japan yen 100.06 99.57 -0.49
Sing dlr 1.2700 1.2692 -0.06
Taiwan dlr 29.728 29.825 +0.33
Korean won 1083.83 1086.80 +0.27
Baht 32.15 32.16 +0.03
Peso 43.83 44.24 +0.94
Rupiah 11490.00 11170.00 -2.79
Rupee 64.21 65.24 +1.60
Ringgit 3.2790 3.2935 +0.44
Yuan 6.1207 6.1210 +0.00
Change so far in 2013
Currency Latest bid End prev year Pct Move
Japan yen 100.06 86.79 -13.26
Sing dlr 1.2700 1.2219 -3.79
Taiwan dlr 29.728 29.136 -1.99
Korean won 1083.83 1070.60 -1.22
Baht 32.15 30.61 -4.79
Peso 43.82 41.05 -6.32
Rupiah 11490.00 9630.00 -16.19
Rupee 64.21 54.99 -14.36
Ringgit 3.2790 3.0580 -6.74
Yuan 6.1207 6.2303 +1.79
(Reporting by Jongwoo Cheon; Editing by Jacqueline Wong)
- USA News