Asian currencies end week up against dollar
Monday, 10 September 2007
HONG KONG, Sept 9 (AFP): Asian currencies ended the week mostly higher against the dollar, as expectations grew that the US central bank will cut interest rates later this month.
JAPANESE YEN: The yen rose against the dollar amid growing expectations of a US interest rate cut in the wake of the subprime mortgage market crisis.
The Japanese currency peaked at 114.81 to the dollar Thursday and stood at 115.18-19 to the dollar at the end of daytime trading in Tokyo Friday, up from 116.22-25 to the dollar a week earlier.
AUSTRALIAN DOLLAR: The Australian dollar is expected to trade around current levels next week after being boosted by strong employment data and commodity prices.
The Aussie ended the week at around 82.64 US cents, up from 82.25 in late trading Thursday and marginally up from 82.45 at the end of trading the previous Friday.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 69.16 US cents, down from 70.30 US cents the previous Friday.
CHINESE YUAN: The yuan closed at 7.5371 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.5404, and a closing price of 7.5445 to the dollar the week before.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.78 to the US unit, from 7.81 a week earlier.
INDONESIAN RUPIAH: The rupiah ended the week trading at 9,398/9,403 to the dollar, compared to 9,395/9,400 to the dollar a week earlier.
PHILIPPINE PESO: The Philippine peso traded higher at 46.53 to the dollar Friday afternoon from 46.55 to the dollar on August 31.
SINGAPORE DOLLAR: The dollar was at 1.5245 Singapore dollars Friday from 1.5220 the previous week.
SOUTH KOREAN WON: The won strengthened to 938.0 per dollar, compared with 938.30 won a week earlier, as exporters unloaded dollar holdings.
Dealers said the dollar-won would maintain its current trend in the coming week until the US Federal Reserve's meeting on September 18.
TAIWAN DOLLAR: The Taiwan dollar dropped 0.16 per cent in the week to September 7 to close at 33.050 against the US dollar. The local currency closed at 32.996 a week earlier.
THAI BAHT: The Thai baht edged up against the dollar over the past week as domestic investors bought the local unit in technical trading, dealers said.
The Thai baht closed at 34.26-27 to the greenback Friday, up from 34.30-32 a week earlier.
JAPANESE YEN: The yen rose against the dollar amid growing expectations of a US interest rate cut in the wake of the subprime mortgage market crisis.
The Japanese currency peaked at 114.81 to the dollar Thursday and stood at 115.18-19 to the dollar at the end of daytime trading in Tokyo Friday, up from 116.22-25 to the dollar a week earlier.
AUSTRALIAN DOLLAR: The Australian dollar is expected to trade around current levels next week after being boosted by strong employment data and commodity prices.
The Aussie ended the week at around 82.64 US cents, up from 82.25 in late trading Thursday and marginally up from 82.45 at the end of trading the previous Friday.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 69.16 US cents, down from 70.30 US cents the previous Friday.
CHINESE YUAN: The yuan closed at 7.5371 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.5404, and a closing price of 7.5445 to the dollar the week before.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.78 to the US unit, from 7.81 a week earlier.
INDONESIAN RUPIAH: The rupiah ended the week trading at 9,398/9,403 to the dollar, compared to 9,395/9,400 to the dollar a week earlier.
PHILIPPINE PESO: The Philippine peso traded higher at 46.53 to the dollar Friday afternoon from 46.55 to the dollar on August 31.
SINGAPORE DOLLAR: The dollar was at 1.5245 Singapore dollars Friday from 1.5220 the previous week.
SOUTH KOREAN WON: The won strengthened to 938.0 per dollar, compared with 938.30 won a week earlier, as exporters unloaded dollar holdings.
Dealers said the dollar-won would maintain its current trend in the coming week until the US Federal Reserve's meeting on September 18.
TAIWAN DOLLAR: The Taiwan dollar dropped 0.16 per cent in the week to September 7 to close at 33.050 against the US dollar. The local currency closed at 32.996 a week earlier.
THAI BAHT: The Thai baht edged up against the dollar over the past week as domestic investors bought the local unit in technical trading, dealers said.
The Thai baht closed at 34.26-27 to the greenback Friday, up from 34.30-32 a week earlier.