Currencies mostly up against dollar, yen lower
Monday, 27 August 2007
HONG KONG, Aug 26 (AFP): Asian currencies ended the week mainly higher against the dollar, with concerns easing after global stock markets rebounded, but the yen fell after hitting a 14-month high the week before.
JAPANESE YEN: The yen lost ground against the dollar during the week after hitting a 14-month high the previous week as rebounding global stock markets dampened yen-buying sentiment, dealers said.
The Japanese currency was quoted at 116.10 against the dollar late Friday, compared with 112.72 a week earlier. On August 17, the yen hit a 14-month high of 111.60 to the dollar.
AUSTRALIAN DOLLAR: The Australian dollar is expected to rise next week as the market continues to recover from sharp losses and concerns about the US credit squeeze ease, dealers said.
The Aussie was trading at 81.89 US cents late Friday, up 4.48 cents on the previous week's 77.41 US cents.
NEW ZEALAND DOLLAR: The New Zealand dollar steadied after a period of global market turmoil to end the week at 71.25 US cents, up from 67.15 the previous Friday.
CHINESE YUAN: The yuan closed at 7.5665 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.5837, and a closing price of 7.5975 to the dollar the week before.
On the over-the-counter market, it ended at 7.5666 to the dollar against 7.5870 the previous day.
The central bank had set the yuan's central parity rate at 7.5691 to the dollar Friday, compared with 7.5847 Thursday.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.81, from 7.822 a week earlier.
INDONESIAN RUPIAH: The rupiah ended the week trading at 9,405/9,415 to the dollar, slightly up from 9,460/9,470 a week earlier.
PHILIPPINE PESO: The Philippine peso traded higher at 45.74 to the dollar Friday, as compared with from 46.85 a week earlier.
SINGAPORE DOLLAR: The dollar was trading at 1.5238 Singapore dollars Friday, from 1.5361 the previous week.
SOUTH KOREAN WON: The won regained strength against the dollar following the US Federal Reserve's decision to cut its discount rate and the easing of jitters over a global credit crunch.
The won rose to 941.70 to the dollar Friday, compared with 950.40 a week earlier.
Dealers said the movement of the won is likely to rely on the stock market's reaction to the global credit crunch in the coming week.
TAIWAN DOLLAR: The Taiwan dollar finished the week down slightly at 32.980 against the US dollar, compared with 32.931 a week earlier.
THAI BAHT: The Thai baht gained slightly against the greenback over the past week, amid moderate trading that reflected the lackluster performance of the stock market, dealers said.
The Thai unit closed Friday at 34.35-40 baht to the dollar, compared to last week's close of 34.50-55.
JAPANESE YEN: The yen lost ground against the dollar during the week after hitting a 14-month high the previous week as rebounding global stock markets dampened yen-buying sentiment, dealers said.
The Japanese currency was quoted at 116.10 against the dollar late Friday, compared with 112.72 a week earlier. On August 17, the yen hit a 14-month high of 111.60 to the dollar.
AUSTRALIAN DOLLAR: The Australian dollar is expected to rise next week as the market continues to recover from sharp losses and concerns about the US credit squeeze ease, dealers said.
The Aussie was trading at 81.89 US cents late Friday, up 4.48 cents on the previous week's 77.41 US cents.
NEW ZEALAND DOLLAR: The New Zealand dollar steadied after a period of global market turmoil to end the week at 71.25 US cents, up from 67.15 the previous Friday.
CHINESE YUAN: The yuan closed at 7.5665 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.5837, and a closing price of 7.5975 to the dollar the week before.
On the over-the-counter market, it ended at 7.5666 to the dollar against 7.5870 the previous day.
The central bank had set the yuan's central parity rate at 7.5691 to the dollar Friday, compared with 7.5847 Thursday.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.81, from 7.822 a week earlier.
INDONESIAN RUPIAH: The rupiah ended the week trading at 9,405/9,415 to the dollar, slightly up from 9,460/9,470 a week earlier.
PHILIPPINE PESO: The Philippine peso traded higher at 45.74 to the dollar Friday, as compared with from 46.85 a week earlier.
SINGAPORE DOLLAR: The dollar was trading at 1.5238 Singapore dollars Friday, from 1.5361 the previous week.
SOUTH KOREAN WON: The won regained strength against the dollar following the US Federal Reserve's decision to cut its discount rate and the easing of jitters over a global credit crunch.
The won rose to 941.70 to the dollar Friday, compared with 950.40 a week earlier.
Dealers said the movement of the won is likely to rely on the stock market's reaction to the global credit crunch in the coming week.
TAIWAN DOLLAR: The Taiwan dollar finished the week down slightly at 32.980 against the US dollar, compared with 32.931 a week earlier.
THAI BAHT: The Thai baht gained slightly against the greenback over the past week, amid moderate trading that reflected the lackluster performance of the stock market, dealers said.
The Thai unit closed Friday at 34.35-40 baht to the dollar, compared to last week's close of 34.50-55.