Asian monies mostly up, rupiah down on importer dollar buying<\/p>\n
SINGAPORE (Dow Jones): Most Asian currencies firmed against
\nthe dollar Friday, although analysts said the movement was just a
\ntemporary blip in the U.S. currency's upward trend.<\/p>\n
Falling oil prices and domestic monetary announcements lent
\ngeneral support to most regional currencies for the second
\nconsecutive day.<\/p>\n
The Thai baht enjoyed a respite from its recent weakness,
\ngaining on profit-taking by exporters and on capital inflows. The
\nPhilippine peso, South Korean won, and New Taiwan dollar also
\nstrengthened, while the Indonesian rupiah edged lower. The
\nSingapore dollar finished little changed.<\/p>\n
The rupiah closed lower on local importer dollar demand for
\nthe dollar, traders said.<\/p>\n
An unfounded rumor that former President Suharto had died also
\nhelped keep the dollar a touch on the strong side, they added.
\nSuharto's lawyer Juan Felix Tampubolon dismissed the rumor.<\/p>\n
The dollar closed at Rp 8,805, up from Rp 8,790 late Thursday.<\/p>\n
Local importers bought dollars in Friday morning after it fell
\na little Thursday.<\/p>\n
The rumor about Suharto added to pressure to buy dollars, as
\nthe market feared more street battles between pro- and anti-
\nSuharto groups.<\/p>\n
Later Friday, Muslim groups attacked nightspots in the center
\nof the town, underscoring the precarious security situation in
\nthe capital.<\/p>\n
The rupiah was unaffected in very slow pre-weekend trade.
\nAfternoon trade Friday is normally sluggish as many market
\nparticipants go to weekly prayers at the mosque.<\/p>\n
Most analysts see the pair in a tight Rp 8,750 to Rp 8,850
\nnext week. Trade is likely to remain range-bound while investors
\nwait to see the outcome of a meeting of Indonesian aid donors in
\nTokyo Oct. 17-18.<\/p>\n
Donors, including the World Bank and the U.S., have said
\nfurther aid to Indonesia will depend on efforts to stop further
\nviolence in West Timor, where three U.N. workers were killed last
\nmonth.<\/p>\n
Late in Asia, the dollar was quoted at 42.325 baht, down from
\n42.495 baht late Thursday.<\/p>\n
The Thai currency got a lift from exporters selling dollars
\nafter the U.S. currency's recent gains against the baht. Capital
\ninflows associated with an upcoming public listing by utility
\ncompany Ratchaburi Electricity Generating Holding also supported
\nthe local currency.<\/p>\n
The dollar closed at 46.395 pesos on the Philippine Dealing
\nSystem, down from 46.420 pesos a day earlier.<\/p>\n
The peso continued to benefit from the Philippine Central
\nBank's announcement Thursday that it will raise bank reserve
\nrequirements as well as reintroduce a program that would allow
\ncompanies to lock in future dollars at current exchange rates.<\/p>\n
The New Taiwan dollar overcame negative sentiment to finish
\nhigher on a 5.4 percent rally in local stocks.<\/p>\n
The U.S. dollar closed at NT$31.296, down from NT$31.320 late
\nThursday.<\/p>\n
The South Korean won was driven higher on dollar-selling in
\nthe non-deliverable forward market, dealers said.<\/p>\n
The dollar finished at 1,116.20 won, down from Thursday's
\nclose of 1,118.50 won.<\/p>\n
The Singapore dollar opened the session stronger in tandem
\nwith the rising Thai baht, hitting an intraday high of 1.7463 per
\ndollar in the first hour of trading. But the currency lost ground
\nlater as market players stocked up on U.S. dollars ahead of
\nMonday's Columbus Day holiday.<\/p>\n
Near the end of trading, the U.S. dollar was quoted at
\nS$1.7475, little changed from S$1.7472 late Thursday.<\/p>",
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