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EM ASIA FX-Record low rupee leads falls; SE Asia FX at multi-year lows
August 27, 2013 / 8:13 AM / in 4 years

EM ASIA FX-Record low rupee leads falls; SE Asia FX at multi-year lows

(Updates prices. For midday report, double-click
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    SINGAPORE, Aug 27 (Reuters) - The Indian rupee hit a record
low on Tuesday, leading slides among emerging Asian currencies
with Southeast Asian units at multi-year lows as concerns over
possible U.S. military action against the Syrian government
dented risk sentiment.
    The rupee lost as much as 2.5 percent to 65.93 per
dollar after the lower house of Parliament approved a plan worth
nearly $20 billion to provide cheap grain to the poor. 
    The Indonesian rupiah fell 0.6 percent to 10,905 to
the greenback, its weakest since April 2009 as local stocks
dropped more than 3 percent and on higher bond yields.
    Local companies bought dollars above 11,000, while the
central bank provided the greenback at lower levels, traders
said.
    The Malaysian ringgit touched its lowest in more
than three years on selling by foreigners, while the Thai baht
 hit a three-year low on capital outflows.
    Central banks of the countries were spotted selling dollars
to support their currencies, traders said.
    Earlier, the Bank of Thailand said it was not worried about
fund outflows as the country had sufficient foreign reserves and
that it would let the baht move in line with market forces but
would act on excessive moves. 
    The Philippine peso fell to its weakest in more
than two and a half years as local stocks plunged.
    
  CURRENCIES VS U.S. DOLLAR
  Change on the day at 0800 GMT
  Currency    Latest bid   Previous day    Pct Move
  Japan yen        97.82          98.50       +0.70
  Sing dlr        1.2830         1.2807       -0.18
  Taiwan dlr      30.026         30.015       -0.04
  Korean won     1115.85        1112.70       -0.28
  Baht             32.14          31.94       -0.64
  Peso             44.50          44.26       -0.54
  Rupiah        10900.00       10840.00       -0.55
  Rupee            65.70          64.30       -2.13
  Ringgit         3.3270         3.3085       -0.56
  Yuan            6.1211         6.1225       +0.02
 
  Change so far in 2013
  Currency    Latest bid  End prev year    Pct Move
  Japan yen        97.82          86.79      -11.28
  Sing dlr        1.2830         1.2219       -4.76
  Taiwan dlr      30.026         29.136       -2.96
  Korean won     1115.85        1070.60       -4.06
  Baht             32.14          30.61       -4.76
  Peso             44.50          41.05       -7.75
  Rupiah        10900.00        9630.00      -11.65
  Rupee            65.70          54.99      -16.30
  Ringgit         3.3270         3.0580       -8.09
  Yuan            6.1211         6.2303       +1.78
    

 (Reporting by Jongwoo Cheon; Editing by Jacqueline Wong)

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