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EM ASIA FX-Ringgit, rupiah lowest since 2008/09 crisis, Asia FX down on U.S., China data
December 8, 2014 / 8:43 AM / 3 years ago

EM ASIA FX-Ringgit, rupiah lowest since 2008/09 crisis, Asia FX down on U.S., China data

(Updates prices. For midday report, double-click
 )
    SINGAPORE, Dec 8 (Reuters) - Malaysia's ringgit and
Indonesia's rupiah hit their weakest since the 2008-09 global
financial crisis on Monday, as emerging Asian currencies lost
ground after solid U.S. job data boosted the chance of an early
Federal Reserve interest rate hike.    
    Regional units also came under pressure as China's November
imports unexpectedly shrank and exports growth eased, increasing
fears of a sharp slowdown in the world's second-largest economy.
.
    The Chinese yuan turned weaker despite the
central bank setting a stronger official guidance rate. 
    The ringgit lost as much as 0.9 percent to 3.5040
per dollar, its weakest since September 2009, on worries that
lower oil prices would hurt Malaysia's current account and
fiscal deficits.
    Malaysia's central bank was spotted intervening to limit
depreciation in the worst-performing emerging Asian currency so
far this year, traders said.
    "The Central Bank operations in the market are aimed at
ensuring orderly market conditions," Bank Negara Malaysia told
Reuters in an email.
    Currency volatility was likely to persist until the energy
and commodity markets stabilise and a stronger recovery occurs
in the major advanced economies, it added.
    The rupiah fell 0.6 percent to 12,365 per dollar,
its weakest since November 2008, on year-end dollar demand from
local companies.
    The currency pared some of its earlier losses after
Indonesia's central bank said it is conducting "measured
intervention" to support the unit. 
    Thailand's baht weakened past psychological support
at 33.00 per dollar to hit its weakest since January, when
political tensions hit local financial markets.
    
    CURRENCIES VS U.S. DOLLAR
    Change on the day at 0805 GMT
  Currency    Latest bid   Previous day    Pct Move
  Japan yen       121.20         121.53       +0.27
  Sing dlr        1.3228         1.3226       -0.02
  Taiwan dlr      31.280         31.192       -0.28
  Korean won     1116.77        1114.10       -0.24
  Baht             33.07          32.89       -0.54
 *Peso             44.54          44.54       +0.00
  Rupiah        12348.00       12295.00       -0.43
  Rupee            61.94          61.77       -0.27
  Ringgit         3.4940         3.4710       -0.66
  Yuan            6.1637         6.1502       -0.22
 
  Change so far in 2014
  Currency    Latest bid  End prev year    Pct Move
  Japan yen       121.20         105.28      -13.14
  Sing dlr        1.3228         1.2632       -4.51
  Taiwan dlr      31.280         29.950       -4.25
  Korean won     1116.77        1055.40       -5.50
  Baht             33.07          32.86       -0.63
  Peso             44.54          44.40       -0.33
  Rupiah        12348.00       12160.00       -1.52
  Rupee            61.94          61.80       -0.22
  Ringgit         3.4940         3.2755       -6.25
  Yuan            6.1637         6.0539       -1.78
  * Financial markets were closed on heavy rains and strong
winds caused by Typhoon Hagupit. 

 (Reporting by Jongwoo Cheon; Additional reporting by Fransiska
Nangoy in JAKARTA and Al-Zaquan Amer Hamzah in KUALA LUMPUR;
Editing by Kim Coghill)

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