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EM ASIA FX-Yuan rebound, firm stocks help Asia FX weekly gains; U.S. jobs data eyed
March 7, 2014 / 8:33 AM / 4 years ago

EM ASIA FX-Yuan rebound, firm stocks help Asia FX weekly gains; U.S. jobs data eyed

(Updates prices. For midday report, double-click
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    SINGAPORE, March 7 (Reuters) - Most emerging Asian
currencies rose on Friday to enjoy weekly gains, helped by a
rebound in the Chinese yuan and strong regional stocks, although
investors took some profits ahead of the U.S. nonfarm payrolls
report due later in the day.
    The Indonesian rupiah hit a four-month high,
leading the appreciation in regional currencies, as offshore
funds such as real money accounts and hedge funds kept buying
the country's stocks and bonds.
    For the week, the rupiah has risen 1.6 percent against the
dollar, according to Thomson Reuters data.
    The rupee has risen 1.3 percent so far this week as
Indian shares hit a record high on strong foreign
demand.
    Thailand's baht has gained 1.1 percent, which would
be the largest weekly appreciation since the week ended Sept.
20, as some offshore hedge funds covered short-positions with
domestic political unrest easing.
    The South Korean won rose 0.7 percent on
stop-loss dollar selling. Malaysia's ringgit has also
been up 0.7 percent.
    The Philippine peso appreciated 0.5 percent.
    
    CURRENCIES VS U.S. DOLLAR
    Change on the day at 0800 GMT
  Currency    Latest bid   Previous day    Pct Move
  Japan yen       102.88         103.07       +0.18
  Sing dlr        1.2639         1.2631       -0.06
  Taiwan dlr      30.285         30.323       +0.13
  Korean won     1060.50        1064.10       +0.34
  Baht             32.27          32.30       +0.09
  Peso             44.39          44.54       +0.33
  Rupiah        11422.00       11465.00       +0.38
  Rupee            61.01          61.11       +0.16
  Ringgit         3.2550         3.2605       +0.17
  Yuan            6.1166         6.1185       +0.03
 
  Change so far in 2014
  Currency    Latest bid  End prev year    Pct Move
  Japan yen       102.88         105.28       +2.33
  Sing dlr        1.2639         1.2632       -0.06
  Taiwan dlr      30.285         29.950       -1.11
  Korean won     1060.50        1055.40       -0.48
  Baht             32.27          32.86       +1.83
  Peso             44.39          44.40       +0.01
  Rupiah        11422.00       12160.00       +6.46
  Rupee            61.01          61.80       +1.29
  Ringgit         3.2550         3.2755       +0.63
  Yuan            6.1166         6.0539       -1.03
 
 (Reporting by Jongwoo Cheon; Editing by Anupama Dwivedi)

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