EM ASIA FX-Rupee, rupiah lead day's slides, but most Asia FX see firmer week

Reuters

(Corrects grammar in headline)

SINGAPORE, Sept 20 (Reuters) - The Indian rupee and the

Indonesian rupiah led slides among emerging Asian currencies on

Friday, but most regional units had a good chance of producing

weekly gains, thanks to the U.S. Federal Reserve standing pat.

The rupee fell after the central bank surprised

markets with a hike in the repo rate, although it pared some

losses with intervention spotted, according to traders.

Traders said the rupiah remained under pressure from

sustained dollar demand from local corporates for month-end

payments. The currency did not get a boost from news Indonesia

expects to soon sign a bilateral currency swap deal with China

worth at least $15 billion.

The Malaysian ringgit, in subdued trading, slid as

investors booked profits from the week's best-performing

emerging Asian currency. The ringgit has jumped 4.0 percent

against the dollar, according to Thomson Reuters data, on demand

from real money funds.

The Thai baht turned higher on Friday to hit a near

two-month high with government bond yields extending slides.

Emerging Asian currencies were set to see weekly gains as

the Fed on Wednesday confounded investors by keeping its $85

billion monthly asset-buying programme and by sounding dovish.

For the week, the baht had a 3.2 percent gain and the rupee

advanced 2.0 percent.

The Philippine peso rose 1.9 percent, while the

Singapore dollar has strengthened 1.7 percent.

The South Korean won and the Taiwan dollar

both completed the holiday-shortened week with 0.3

percent rises.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0901 GMT

Currency Latest bid Previous day Pct Move

Japan yen 99.39 99.47 +0.08

Sing dlr 1.2483 1.2470 -0.10

*Taiwan dlr 29.722 29.752 +0.10

*Korean won 1070.88 1084.10 +1.23

Baht 30.89 30.97 +0.26

Peso 43.06 43.05 -0.01

Rupiah 11340.00 11277.00 -0.56

Rupee 62.25 61.77 -0.77

Ringgit 3.1625 3.1485 -0.44

*Yuan 6.1212 6.1212 +0.00

Change so far in 2013

Currency Latest bid End prev year Pct Move

Japan yen 99.39 86.79 -12.68

Sing dlr 1.2483 1.2219 -2.11

Taiwan dlr 29.722 29.136 -1.97

Korean won 1070.88 1070.60 -0.03

Baht 30.89 30.61 -0.91

Peso 43.06 41.05 -4.66

Rupiah 11340.00 9630.00 -15.08

Rupee 62.25 54.99 -11.66

Ringgit 3.1625 3.0580 -3.30

Yuan 6.1212 6.2303 +1.78

* Financial markets in China, South Korea and Taiwan were

closed for a holiday.

(Reporting by Jongwoo Cheon; Editing by Richard Borsuk)

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