Asian Currency

EM ASIA FX-Rupiah cuts losses after trade surplus; Asian currencies helped by stocks


(Updates prices. For midday report, double-click

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SINGAPORE, Sept 1 (Reuters) – The rupiah eased on Monday but

pared some losses after Indonesia posted a small trade surplus

in July and as most emerging Asian currencies gained slightly,

with firm regional stocks offsetting downbeat Chinese

manufacturing activity.

Indonesia reported a $123.7 million trade surplus in July,

compared with a Reuters poll forecast for a $390 million

deficit. That helped the rupiah recover

some of its initial slide.

Most emerging Asian currencies gained, with the Philippine

peso at its highest in more than a month.

The peso rose as much as 0.3 percent to 43.470 per dollar,

its strongest since July 31, as investors sought higher yields

on rate hike expectations. A break of 43.50 also caused

stop-loss dollar selling, traders said.

South Korea’s won gained as exporters’ demand for

settlements prompted traders to cover short positions. The

foreign exchange authorities were not spotted intervening to

curb the won’s appreciation, traders said.

The yuan rebounded on technical buying, even

though growth in China’s vast factory sector cooled in August.

The slowdown boosted calls for more policy easing to prevent the

world’s second-largest economy from stumbling again.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0800 GMT

Currency Latest bid Previous day Pct Move

Japan yen 104.12 104.12 -0.00

Sing dlr 1.2493 1.2488 -0.04

Taiwan dlr 29.956 29.970 +0.05

Korean won 1012.80 1014.00 +0.12

Baht 31.96 31.93 -0.08

Peso 43.48 43.59 +0.26

*Rupiah 11705.00 11685.00 -0.17

Rupee 60.45 60.50 +0.08

Ringgit 3.1500 3.1520 +0.06

Yuan 6.1411 6.1432 +0.03

Change so far in 2014

Currency Latest bid End prev year Pct Move

Japan yen 104.12 105.28 +1.11

Sing dlr 1.2493 1.2632 +1.11

Taiwan dlr 29.956 29.950 -0.02

Korean won 1012.80 1055.40 +4.21

Baht 31.96 32.86 +2.83

Peso 43.48 44.40 +2.12

Rupiah 11705.00 12160.00 +3.89

Rupee 60.45 61.80 +2.24

Ringgit 3.1500 3.2755 +3.98

Yuan 6.1411 6.0539 -1.42

* Financial markets in Malaysia were closed for a holiday.

(Reporting by Jongwoo Cheon; Editing by Alan Raybould)



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