EM ASIA FX-Rupee leads Asia FX gains; stock inflows lift won, Taiwan dlr
(Updates prices. For midday report, double-click
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SINGAPORE, April 2 (Reuters) - The Indian rupee led gains
among emerging Asian currencies on Wednesday as risk sentiment
improved on strong U.S. economic data and sustained hopes for
stimulus steps by China.
The rupee hit a fresh eight-month high on dollar
inflows on the first day local foreign exchange markets were
open since Friday. There were holidays on Monday and Tuesday
when most emerging Asian currencies rose.
The South Korean won rose to a near three-month
high as foreign investors continued to buy local shares. The
Taiwan dollar gained on stock inflows.
Investors, however, stayed cautious over possible
intervention by the foreign exchange authorities of the
Northeast Asian countries, limiting gains in those units.
Indonesia's rupiah edged up on demand from foreign
banks.
Asian stocks advanced to a fresh four-month high after U.S.
manufacturing activity expanded in March and new vehicle sales
rose, indicating the world's largest economy escaped the effects
of a severe winter.
Investors are awaiting the March U.S. payroll report due on
Friday, which is expected to show 200,000 jobs were created last
month.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0831 GMT
Currency Latest bid Previous day Pct Move
Japan yen 103.82 103.65 -0.16
Sing dlr 1.2601 1.2593 -0.06
Taiwan dlr 30.358 30.435 +0.25
Korean won 1055.90 1058.50 +0.25
Baht 32.40 32.37 -0.11
Peso 44.88 44.75 -0.30
Rupiah 11295.00 11310.00 +0.13
Rupee 59.62 59.91 +0.49
Ringgit 3.2680 3.2615 -0.20
Yuan 6.2056 6.2069 +0.02
Change so far in 2014
Currency Latest bid End prev year Pct Move
Japan yen 103.82 105.28 +1.40
Sing dlr 1.2601 1.2632 +0.25
Taiwan dlr 30.358 29.950 -1.34
Korean won 1055.90 1055.40 -0.05
Baht 32.40 32.86 +1.42
Peso 44.88 44.40 -1.08
Rupiah 11295.00 12160.00 +7.66
Rupee 59.62 61.80 +3.67
Ringgit 3.2680 3.2755 +0.23
Yuan 6.2056 6.0539 -2.44
(Reporting by Jongwoo Cheon; Editing by Richard Borsuk)
