Asian currencies mixed against dollar
Monday, 25 June 2007
HONG KONG, June 24 (AFP): Asian currencies ended the week mixed against the US dollar, with the yen tumbling to a 4.5- year low on interest rate differentials but the Australian dollar soaring to an 18-year high.
JAPANESE YEN: The yen tumbled to its lowest level against the dollar in four and a half years, as Japan was seen in no rush to raise its extremely low interest rates and market players favoured high-yielding currencies.
The Japanese currency stood at 124.06-08 to the dollar late Friday, down from 123.30-32 to the dollar a week earlier. It fetched 124.14 at one point Friday, its lowest level since December 2002.
AUSTRALIAN DOLLAR: The Australian dollar is expected to gain against the greenback this week after hitting an 18-year-high at Friday's close.
The Aussie was trading at 84.79 US cents at 5:00 pm Friday, up more than a cent on the previous week's 83.73 US cents and at its highest level in almost two decades.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 75.39 US cents, up slightly from 75.25 the previous Friday.
Dealers said the central bank had intervened in the foreign exchange market for a second time Monday to sell the kiwi.
CHINESE YUAN: The yuan closed at 7.6213 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.6190, and a closing price of 7.6242 to the dollar the week before. On the over-the-counter market, it ended at 7.6207 to the dollar against 7.6188 the previous day.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.813, from 7.817 a week earlier.
INDONESIAN RUPIAH: The rupiah ended the week trading at 9,000/0005 to the greenback as compared with 9,043/9,048 a week earlier.
PHILIPPINE PESO: The Philippine peso was at 46.06 to the dollar Friday, compared to 46.39 on June 15.
SINGAPORE DOLLAR: The Singapore dollar was at 1.5374 to the US dollar from 1.5412 the week before.
SOUTH KOREAN WON: The won closed at 928.0 won to the dollar Friday, up slightly as compared with 928.50 won a week earlier.
Dealers said the dollar-won rate might test the 930-won level in the coming week if the stock market were to continue with a recent correction.
TAIWAN DOLLAR: The Taiwan dollar rose 1.23 per cent to finish the week at 32.736 to the US dollar, as compared with 33.142 a week earlier.
THAI BAHT: The Thai baht remained stable against the dollar over the past week as investors adopted a wait-and-see attitude ahead of a weekend protest against the kingdom's army- installed government, dealers said.
The Thai unit closed at 34.59-60 to the dollar Friday, marginally up from 34.65-66 a week earlier.
JAPANESE YEN: The yen tumbled to its lowest level against the dollar in four and a half years, as Japan was seen in no rush to raise its extremely low interest rates and market players favoured high-yielding currencies.
The Japanese currency stood at 124.06-08 to the dollar late Friday, down from 123.30-32 to the dollar a week earlier. It fetched 124.14 at one point Friday, its lowest level since December 2002.
AUSTRALIAN DOLLAR: The Australian dollar is expected to gain against the greenback this week after hitting an 18-year-high at Friday's close.
The Aussie was trading at 84.79 US cents at 5:00 pm Friday, up more than a cent on the previous week's 83.73 US cents and at its highest level in almost two decades.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 75.39 US cents, up slightly from 75.25 the previous Friday.
Dealers said the central bank had intervened in the foreign exchange market for a second time Monday to sell the kiwi.
CHINESE YUAN: The yuan closed at 7.6213 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.6190, and a closing price of 7.6242 to the dollar the week before. On the over-the-counter market, it ended at 7.6207 to the dollar against 7.6188 the previous day.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.813, from 7.817 a week earlier.
INDONESIAN RUPIAH: The rupiah ended the week trading at 9,000/0005 to the greenback as compared with 9,043/9,048 a week earlier.
PHILIPPINE PESO: The Philippine peso was at 46.06 to the dollar Friday, compared to 46.39 on June 15.
SINGAPORE DOLLAR: The Singapore dollar was at 1.5374 to the US dollar from 1.5412 the week before.
SOUTH KOREAN WON: The won closed at 928.0 won to the dollar Friday, up slightly as compared with 928.50 won a week earlier.
Dealers said the dollar-won rate might test the 930-won level in the coming week if the stock market were to continue with a recent correction.
TAIWAN DOLLAR: The Taiwan dollar rose 1.23 per cent to finish the week at 32.736 to the US dollar, as compared with 33.142 a week earlier.
THAI BAHT: The Thai baht remained stable against the dollar over the past week as investors adopted a wait-and-see attitude ahead of a weekend protest against the kingdom's army- installed government, dealers said.
The Thai unit closed at 34.59-60 to the dollar Friday, marginally up from 34.65-66 a week earlier.