Asian currencies lower against dollar

Asian currencies ended the week lower against the dollar as the greenback gained ground on the back of stronger than expected US economic data and hopes of US rate cuts.
JAPANESE YEN: The Japanese yen eased in the past week, but market players saw the unit possibly swinging upward amid revived talk of a future interest rate hike, dealers said.
The yen stood at 109.01 to the dollar on Friday, down from 108.93 a week ago.
"The inflation figure caused some yen-buying since it was quite high. The markets reacted naturally," said Kenichi Yumoto, vice president of forex sales at Societe Generale.
Core inflation surged to 2.4 percent in July as prices rose for the 10th straight month on the back of soaring energy and raw material costs, the sharpest increase since October 1997.
While markets do not expect Japan to raise its super-low rates any time soon, the data came a day after Bank of Japan member Miyako Suda said that the central bank was prepared for a hike once the economic slump was over.
CHINESE YUAN: The yuan closed at 6.8409 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 6.8313, and a closing price of 6.8347 to the dollar the previous Friday.
On the over-the-counter market, it ended at 6.8400 to the dollar against 6.8275 the previous day.
The central bank had set the yuan central parity rate at 6.8345 to the dollar Friday, compared with 6.8326 on Thursday.
The People's Bank of China allows a trading band of 0.5 percent on either side of the midpoint.
HONG KONG DOLLAR: The US-linked Hong Kong dollar finished the week at 7.807 to the greenback compared with 7.81 the week before.
INDONESIAN RUPIAH: The rupiah ended the week's trading at 9,155 to the dollar, down from 9,147 a week earlier.
SINGAPORE DOLLAR: The dollar was at 1.4157 Singapore dollars on Friday from 1.4054 the previous week.
SOUTH KOREAN WON: The won continued its descent over the past week, falling to 1,089.0 to the dollar Friday from 1,062.50 a week earlier.
The won further weakened as foreign investors kept dumping local shares and oil refiners bought the greenback for import settlements, dealers said.
THAI BAHT: The baht fell to a 12-month low during the week due to a political stand-off between the government and protesters who are besieging the main government house, dealers said.
The Thai unit closed Friday at 34.20-22 to the dollar, down from the previous week's close of 33.91-94.

Comments

Asian currencies lower against dollar

Asian currencies ended the week lower against the dollar as the greenback gained ground on the back of stronger than expected US economic data and hopes of US rate cuts.
JAPANESE YEN: The Japanese yen eased in the past week, but market players saw the unit possibly swinging upward amid revived talk of a future interest rate hike, dealers said.
The yen stood at 109.01 to the dollar on Friday, down from 108.93 a week ago.
"The inflation figure caused some yen-buying since it was quite high. The markets reacted naturally," said Kenichi Yumoto, vice president of forex sales at Societe Generale.
Core inflation surged to 2.4 percent in July as prices rose for the 10th straight month on the back of soaring energy and raw material costs, the sharpest increase since October 1997.
While markets do not expect Japan to raise its super-low rates any time soon, the data came a day after Bank of Japan member Miyako Suda said that the central bank was prepared for a hike once the economic slump was over.
CHINESE YUAN: The yuan closed at 6.8409 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 6.8313, and a closing price of 6.8347 to the dollar the previous Friday.
On the over-the-counter market, it ended at 6.8400 to the dollar against 6.8275 the previous day.
The central bank had set the yuan central parity rate at 6.8345 to the dollar Friday, compared with 6.8326 on Thursday.
The People's Bank of China allows a trading band of 0.5 percent on either side of the midpoint.
HONG KONG DOLLAR: The US-linked Hong Kong dollar finished the week at 7.807 to the greenback compared with 7.81 the week before.
INDONESIAN RUPIAH: The rupiah ended the week's trading at 9,155 to the dollar, down from 9,147 a week earlier.
SINGAPORE DOLLAR: The dollar was at 1.4157 Singapore dollars on Friday from 1.4054 the previous week.
SOUTH KOREAN WON: The won continued its descent over the past week, falling to 1,089.0 to the dollar Friday from 1,062.50 a week earlier.
The won further weakened as foreign investors kept dumping local shares and oil refiners bought the greenback for import settlements, dealers said.
THAI BAHT: The baht fell to a 12-month low during the week due to a political stand-off between the government and protesters who are besieging the main government house, dealers said.
The Thai unit closed Friday at 34.20-22 to the dollar, down from the previous week's close of 33.91-94.

Comments