* Rupiah rises as Indonesia has surprise trade surplus
* Asian currencies rise broadly but outlook uncertain
* US govt shutdown starts, focus will move to debt ceiling
By Masayuki Kitano
SINGAPORE, Oct 1 (Reuters) - Asian currencies rose on
Tuesday, with the rupiah making a significant gain after
Indonesia reported a surprise monthly trade surplus, but the
outlook was murky as the U.S. government began a partial
The rupiah pulled away from Monday's 4-1/2
year low versus the dollar, getting a lift after Indonesia
announced a trade surplus of $130 million for August, compared
to market expectations for a deficit of $890 million.
The Indian rupee rose as the currency found some
support after data released on Monday showed a
lower-than-expected June quarter current account gap.
There were mixed views on the outlook for emerging Asian
currencies as the U.S. government began a partial shutdown on
Tuesday for the first time in 17 years.
Satoshi Okagawa, senior global markets analyst for Sumitomo
Mitsui Banking Corporation in Singapore, said near-term gains in
Asian currencies likely will be limited as focus shifts to
negotiations on raising the U.S. government's borrowing
authority, a factor that could curb investors' appetite for
"The biggest worry for financial markets now is the issue of
the debt ceiling," Okagawa said.
At issue is whether the U.S. Congress can meet a mid-October
deadline to raise the government's $16.7 trillion debt ceiling.
Failure to do so may result in a debt default that could
cripple the U.S. economy and send shockwaves around the globe.
It may be best to avoid tilting bets too heavily in one
direction for now, said a trader for a Japanese bank in
"I'm trying not to have a biased view right now, so I can
move in either direction depending on the circumstances," the
The Indonesian rupiah rose 0.5 percent to 11,510 to the
dollar, pulling away from Monday's low of 11,660, which was the
rupiah's lowest level dollar since March 2009.
Earlier on Tuesday, well before the release of the
Indonesian trade data, two traders said state-run banks had sold
the dollar, with one Jakarta-based trader saying Indonesia's
central bank had sold the dollar via state-run banks.
The rupiah has been the worst performing Asian currency in
2013 with a 16 percent slide against the dollar, according to
Thomson Reuters data.
Due to Indonesia's current account deficit, the rupiah is
seen as more vulnerable than other emerging currencies to the
U.S. Federal Reserve's eventual scaling back of its bond-buying
The following table shows the position of Asian currencies
against the dollar at 0719 GMT.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0719 GMT
Currency Latest bid Previous day Pct Move
Japan yen 97.88 98.23 +0.36
Sing dlr 1.2514 1.2563 +0.39
Taiwan dlr 29.510 29.670 +0.54
Korean won 1072.40 1074.70 +0.21
Baht 31.11 31.29 +0.56
Peso 43.34 43.54 +0.47
Rupiah 11510.00 11570.00 +0.52
Rupee 62.27 62.60 +0.54
Ringgit 3.2345 3.2595 +0.77
Yuan 6.1220 6.1220 +0.00
Change so far in 2013
Currency Latest bid End prev year Pct Move
Japan yen 97.88 86.79 -11.33
Sing dlr 1.2514 1.2219 -2.36
Taiwan dlr 29.510 29.136 -1.27
Korean won 1072.40 1070.60 -0.17
Baht 31.11 30.61 -1.61
Peso 43.34 41.05 -5.27
Rupiah 11510.00 9630.00 -16.33
Rupee 62.27 54.99 -11.68
Ringgit 3.2345 3.0580 -5.46
Yuan 6.1220 6.2303 +1.77
(Additional reporting by Subhadip Sircar in MUMBAI; Editing by
- Asia News