Rupiah leads Asian currency gains as dong and baht weaken
Five of the 10 Asian currencies tracked rose against the US dollar, while the dollar index edged up 0.03%.
Indonesia’s rupiah rose 0.11% to Rp18,050 per US dollar on 10 November, recording the largest gain among 10 Asian currencies monitored by Refinitiv. The figures, recorded at 09.20 WIB, showed an even split between currencies gaining and losing ground against the dollar.
Among the other gainers, Malaysia’s ringgit advanced 0.07% and China’s yuan added 0.03%. The Singapore dollar strengthened 0.02%, while the Philippine peso was up 0.01%.
South Korea’s won posted the steepest decline, falling 0.38% to KRW1,345.34 per US dollar. Vietnam’s dong dropped 0.27%, followed by a 0.24% fall in the Taiwan dollar. Japan’s yen weakened 0.09% and Thailand’s baht lost 0.06%.
The US dollar index, or DXY, edged up 0.03% to 101.686. Expectations of a Federal Reserve interest-rate increase continued to support the dollar, CNBC Indonesia reported. CME FedWatch indicated that market participants were pricing in roughly an 85% chance of a rate rise at the December meeting.
