November 23, 2018 / 5:41 AM / a year ago

EM ASIA FX-Most Asian currencies barely move; Indonesian rupiah biggest gainer

 (Adds text, updates prices)
    By Aby Jose Koilparambil
    Nov 23 (Reuters) - Most emerging Asian currencies moved only
marginally on Friday, with many investors in wait-and-see mode
before the G20 summit in Argentina on Nov. 30-Dec. 1.
    With U.S. markets closed overnight for Thanksgiving and
Japan on holiday on Friday, regional trading activity was muted.
    Investors keenly await the meeting of the presidents of the
United States and China on the sidelines of G20 in Buenos Aires,
hoping it can de-escalate the trade war between the world's two
largest economies.
    Mizuho Bank, in a note, warned against being too optimistic
on a deal being reached in Argentina. It advised "caution over
optimism" because what the U.S. is seeking requires "more
concessions that Beijing can possibly concede".
    On Friday, the Indonesian rupiah topped gainers among
regional currencies, appreciating as much as 0.5 percent to
14,510 to the dollar. It was on track to post a third successive
weekly gain.
    Indonesia has felt some relief from lower oil prices, as
Southeast Asia's biggest economy is a net importer of the
commodity.
    Oil prices resumed their fall on Friday, pressured by
concerns that producers are churning out more supply than the
world needs amid a far-from-rosy economic outlook.
    However, oil markets were offered some support by an
expectation that the Organization of the Petroleum Exporting
Countries will start withholding supply in 2019 to rein in any
glut.
    The Philippine peso firmed as much as 0.3 percent to
52.280 against the dollar. The currency was on course for its
eighth straight weekly advance, and the biggest gain in that
streak, being up about 1.2 percent. 
    Aiding some currencies was a weaker reading for the dollar
index that measures the greenback against six major
peers. Much of the weakness stems from strength in the euro and
sterling, which together constitute 70 percent of the index.

    The Thai baht, Chinese yuan and the
Singapore dollar all were marginally down while the
Malaysian ringgit was flat.
    Malaysia's consumer price index rose 0.6 percent in October
from a year earlier, matching a Reuters poll forecast and
accelerating from the previous month's 0.3 percent, government
data showed on Friday.
    Indian markets were closed on the day for a holiday.
       
    The following table shows rates for Asian currencies against
the dollar at 0536 GMT.
    CURRENCIES VS U.S. DOLLAR
    
 Currency                     Latest bid  Previous day  Pct Move
 Japan yen                    112.850     112.93        +0.07
 Sing dlr                     1.373       1.3725        -0.02
 Taiwan dlr                   30.900      30.894        -0.02
 Korean won                   1131.400    1129.2        -0.19
 Baht                         32.980      32.95         -0.09
 Peso                         52.270      52.41         +0.27
 Rupiah                       14510.000   14575         +0.45
 Ringgit                      4.194       4.194         +0.00
 Yuan                         6.940       6.9314        -0.12
                                                        
 Change so far in 2018                                  
 Currency                     Latest bid  End 2017      Pct Move
 Japan yen                    112.850     112.67        -0.16
 Sing dlr                     1.373       1.3373        -2.59
 Taiwan dlr                   30.900      29.848        -3.40
 Korean won                   1131.400    1070.50       -5.38
 Baht                         32.980      32.58         -1.21
 Peso                         52.270      49.93         -4.48
 Rupiah                       14510.000   13565         -6.51
 Rupee                        70.670      63.87         -9.62
 Ringgit                      4.194       4.0440        -3.58
 Yuan                         6.940       6.5069        -6.24
 

 (Reporting by Aby Jose Koilparambil in Bengaluru)
  
 
 
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below