* Rupee down on private oil companies
* Rupiah lower on month-end corporate dollar demand
* Ringgit falls on caution over 2014 budget
* Won eases on intervention caution, importers
(Adds text, updates prices)
By Jongwoo Cheon
SINGAPORE, Oct 21 (Reuters) - Most emerging Asian currencies
eased on Monday as investors took profit after last week's gains
despite growing expectations the U.S. Federal Reserve may have
to keep its monetary stimulus longer due to the impact of a
The Indian rupee underperformed on dollar bids from
private oil companies. Indonesia's rupiah fell
on month-end dollar demand from domestic companies.
The Malaysian ringgit slid as investors cut long
positions amid caution before the country's 2014 budget on
Friday, while commercial dollar demand hurt the Thai baht
The dollar stayed around an 8-month low against a basket of
currencies amid views that the Fed will postpone dialing back
its bond-buying programme after a 16-day government shutdown.
"A sluggish dollar is positive for Asian FX. But risks to
the U.S. economy and consequently global economy will weigh on
risk sentiment, which offsets the lift from a weaker dollar,"
said Andy Ji, Asian currency strategist for Commonwealth Bank of
Australia in Singapore.
"In addition, there is still risk of an earlier than
expected tapering or shifting expectations based on better than
expected U.S. economic data," Ji said.
Investors are awaiting September U.S. payrolls due on
Tuesday with forecasts of a job gain of 180,000, although the
data will shed little light on the impact of the policy
paralysis in Washington.
A majority of market players now expect the Fed will begin
reducing stimulus next year, though some analysts believe
tapering of its bond-buying programme is still possible in
Such expectations helped most emerging Asian currencies rise
The rupiah fell on month-end dollar demand from local
companies and after foreign investors were net sellers in
Indonesian stocks in the previous straight sessions.
The forward onshore market, or Jakarta Interbank Spot Dollar
Rate (JISDOR), was fixed at 11,353 per dollar,
compared with Friday's 11,308.
Some local banks and state-run lenders sold dollars,
limiting the rupiah's downside.
Still, the Indonesian currency is likely to stay under
pressure from increasing dollar bids from domestic companies,
"Corporate demand will provide support to the dollar until
next week," said a Jakarta-based trader, adding the rupiah was
expected to trade between 11,350 per dollar and 11,400.
The ringgit slid as investors reduced bullish bets against
both the U.S. dollar and the Singapore dollar.
On a daily chart, the Malaysian currency is seen facing a
resistance line at 3.1468 to the greenback, the 50.0 percent
Fibonacci retracement of its weakness between May and August.
Against the neighbouring city-state's currency, the
Malaysian currency eased as much as 0.4 percent to 2.5563.
Investors are keeping an eye on Malaysia's next fiscal
budget due on Friday.
"MYR has done surprisingly well of late and is not pricing
in much risk of fiscal disappointment in the interim, which
leaves the ringgit exposed to the downside under a market stress
event," Scotiabank said in a note.
Prime Minister Najib Razak won internal voting for top posts
in the ruling party at the weekend but at a cost to his reform
The won eased on dollar demand from South Korean importers
amid sustained caution over possible intervention by the foreign
exchange authorities to stem its strength.
Still, the South Korean currency found relief as foreign
investors were set to extend their buying spree in Seoul shares
to a record 37th consecutive session.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0430 GMT
Currency Latest bid Previous day Pct Move
Japan yen 98.01 97.77 -0.24
Sing dlr 1.2410 1.2388 -0.18
Taiwan dlr 29.406 29.446 +0.14
Korean won 1061.90 1060.80 -0.10
Baht 31.08 31.02 -0.19
Peso 43.15 43.07 -0.19
Rupiah 11350.00 11308.00 -0.37
Rupee 61.52 61.27 -0.41
Ringgit 3.1660 3.1565 -0.30
Yuan 6.0949 6.0968 +0.03
Change so far in 2013
Currency Latest bid End prev year Pct Move
Japan yen 98.01 86.79 -11.45
Sing dlr 1.2410 1.2219 -1.54
Taiwan dlr 29.406 29.136 -0.92
Korean won 1061.90 1070.60 +0.82
Baht 31.08 30.61 -1.51
Peso 43.15 41.05 -4.87
Rupiah 11350.00 9630.00 -15.15
Rupee 61.52 54.99 -10.61
Ringgit 3.1660 3.0580 -3.41
Yuan 6.0949 6.2303 +2.22
(Additional reporting by IFR Markets' Catherine Tan; Editing by