EM ASIA FX-Record low rupee leads Asia FX slide

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06-08-2013 16:19:50
EM ASIA FX-Record low rupee leads Asia FX slide amid weak regional stocks

(Updates prices. For midday report, double-click
[ID:nL4N0G70GI])
SINGAPORE, Aug 6 (Reuters) - The Indian rupee hit a record
low on Tuesday due to dollar demand from importers, leading the
slide among emerging Asian currencies on weaker regional stocks
and higher U.S. Treasury yields.
The rupee lost as much as 1.5 percent to 61.80 per
dollar, breaking a previous low of 61.21 on July 8, on sustained
worries about the country's record-high current account deficit.
The Indian unit recovered some losses as the central bank was
spotted intervening to support it. [ID:nL4N0G7124]
[ID:nL4N0G7149]
The Malaysian ringgit turned lower on selling from
European investors, while the Thai baht hit a near
one-month low to the dollar amid worries about political
uncertainty.
The South Korean won eased on concerns over
potential intervention by the foreign exchange authorities to
stem its strength.
Asian stocks <.MIAPJ0000PUS> fell to a two-week low and
10-year U.S. Treasury yields rose in Asia.
The Japanese yen turned lower against the dollar,
putting pressure on emerging Asian currencies, traders said.

CURRENCIES VS U.S. DOLLAR
Change on the day at 0800 GMT
Currency Latest bid Previous day Pct Move
Japan yen 98.36 98.28 -0.08
Sing dlr 1.2676 1.2688 +0.09
Taiwan dlr 29.980 29.950 -0.10
Korean won 1115.00 1113.80 -0.11
Baht 31.41 31.33 -0.25
Peso 43.54 43.47 -0.15
*Rupiah 10280.00 10280.00 +0.00
Rupee 61.61 60.88 -1.18
Ringgit 3.2395 3.2315 -0.25
Yuan 6.1214 6.1247 +0.05

Change so far in 2013
Currency Latest bid End prev year Pct Move
Japan yen 98.36 86.79 -11.76
Sing dlr 1.2676 1.2219 -3.61
Taiwan dlr 29.980 29.136 -2.82
Korean won 1115.00 1070.60 -3.98
Baht 31.41 30.61 -2.55
Peso 43.54 41.05 -5.71
Rupiah 10280.00 9630.00 -6.32
Rupee 61.61 54.99 -10.75
Ringgit 3.2395 3.0580 -5.60
Yuan 6.1214 6.2303 +1.78
* Financial markets in Indonesia are closed this week for
holidays.

(Reporting by Jongwoo Cheon, Additional reporting by IFR
Markets Catherine Tan; Editing by Jacqueline Wong)
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