Asian currencies mostly down against the dollar
Monday, 7 July 2008
HONG KONG, July 6 (AFP): Major Asian currencies ended the week mainly lower against the dollar as US jobs data was not as bad as feared, although concern persisted over the state of the world's largest economy.
JAPANESE YEN: The yen fell back from a three-week high against the dollar but market players remained reluctant to buy the greenback due to worries over US economic weakness. The Japanese currency rose to the week's high of 105.25 to the dollar Monday on an upgrade of the Japanese government bond rating, but gradually lost ground to hit a low of 106.88 Friday. It ended daytime trading at 106.72-75 to the dollar Friday, slightly off from 106.34-36 a week earlier.
AUSTRALIAN DOLLAR: The Australian dollar's recent volatility is expected to continue next week as the currency pushes closer to parity with the greenback, dealers said. The Australian dollar was trading at 96.20 US cents at 5:00 pm (0800 GMT) Friday, up on the previous week's 95.90 US cents.
NEW ZEALAND DOLLAR: The New Zealand dollar ended local trading Friday at 75.61 US cents, down from 76.05 at the end of the previous week. The currency lost ground midweek after central bank governor Alan Bollard said the economy would be flat in the second quarter before picking up later in the year.
CHINESE YUAN: The yuan closed at 6.8626 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 6.8510, and a closing price of 6.8609 to the dollar last Friday. On the over-the-counter market, it ended at 6.8589 to the dollar against 6.8510 in the previous day.
HONG KONG DOLLAR: The US-linked Hong Kong dollar finished the week at 7.799 to the greenback compared with 7.8016 the week before.
INDONESIAN RUPIAH: The rupiah ended the week's trading at 9,215 to the dollar compared to 9,213 a week earlier.
PHILIPPINES PESO: The Philippines peso fell to 45.45 to the dollar Friday afternoon from 44.79 on June 27.
SINGAPORE DOLLAR: The dollar was at 1.3600 Singapore dollars
Friday from 1.3646 the previous week.
SOUTH KOREAN WON: The won slumped to a 32-month low of 1,050.40 to the dollar Friday, compared with 1,041.5 won a week earlier, as oil price continued rising and foreign investors kept dumping local stocks. The government was forced to intervene Wednesday, when the dollar surged to 1,057 won. Authorities poured an estimated four billion dollars in a matter of an hour or so, dealers said. The dollar then plunged 22 won.
TAIWAN DOLLAR: The Taiwan dollar fell slightly to close Friday at 30.401 against the US dollar, down from 30.388 a week earlier.
THAI BAHT: The Thai baht rose slightly against the greenback over the week as poor US economic data caused the dollar to weaken, dealers said. The Thai unit closed Friday at 33.48-49 to the dollar compared with the previous week's close of 33.53-56.
JAPANESE YEN: The yen fell back from a three-week high against the dollar but market players remained reluctant to buy the greenback due to worries over US economic weakness. The Japanese currency rose to the week's high of 105.25 to the dollar Monday on an upgrade of the Japanese government bond rating, but gradually lost ground to hit a low of 106.88 Friday. It ended daytime trading at 106.72-75 to the dollar Friday, slightly off from 106.34-36 a week earlier.
AUSTRALIAN DOLLAR: The Australian dollar's recent volatility is expected to continue next week as the currency pushes closer to parity with the greenback, dealers said. The Australian dollar was trading at 96.20 US cents at 5:00 pm (0800 GMT) Friday, up on the previous week's 95.90 US cents.
NEW ZEALAND DOLLAR: The New Zealand dollar ended local trading Friday at 75.61 US cents, down from 76.05 at the end of the previous week. The currency lost ground midweek after central bank governor Alan Bollard said the economy would be flat in the second quarter before picking up later in the year.
CHINESE YUAN: The yuan closed at 6.8626 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 6.8510, and a closing price of 6.8609 to the dollar last Friday. On the over-the-counter market, it ended at 6.8589 to the dollar against 6.8510 in the previous day.
HONG KONG DOLLAR: The US-linked Hong Kong dollar finished the week at 7.799 to the greenback compared with 7.8016 the week before.
INDONESIAN RUPIAH: The rupiah ended the week's trading at 9,215 to the dollar compared to 9,213 a week earlier.
PHILIPPINES PESO: The Philippines peso fell to 45.45 to the dollar Friday afternoon from 44.79 on June 27.
SINGAPORE DOLLAR: The dollar was at 1.3600 Singapore dollars
Friday from 1.3646 the previous week.
SOUTH KOREAN WON: The won slumped to a 32-month low of 1,050.40 to the dollar Friday, compared with 1,041.5 won a week earlier, as oil price continued rising and foreign investors kept dumping local stocks. The government was forced to intervene Wednesday, when the dollar surged to 1,057 won. Authorities poured an estimated four billion dollars in a matter of an hour or so, dealers said. The dollar then plunged 22 won.
TAIWAN DOLLAR: The Taiwan dollar fell slightly to close Friday at 30.401 against the US dollar, down from 30.388 a week earlier.
THAI BAHT: The Thai baht rose slightly against the greenback over the week as poor US economic data caused the dollar to weaken, dealers said. The Thai unit closed Friday at 33.48-49 to the dollar compared with the previous week's close of 33.53-56.