(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
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)
- USA News
- Indonesian rupiah