Most regional currencies fell against the US dollar over the week, reflecting the yen's slide against the greenback. The Philippine peso fell to a record low, while the Australian dollar consolidated after touching a seven-year high.
JAPANESE YEN: The yen lost ground during the week on growing fears that Japan would continue intervening to stem any rise in its currency, dealers said.
The Japanese currency stood at 107.34 to the dollar late Friday, down from 105.38-40 yen a week ago.
Investors are "convinced that Japanese monetary authorities are determined to curb the yen's strength", said Kikuko Takeda, foreign exchange manager at Bank of Tokyo-Mitsubishi.
The Bank of Japan, at the request of the Ministry of Finance, is believed to have intervened aggressively to sell yen for dollars during the week, capitalising after the yen remained under 105 against the dollar even after positive Japanese economic data, Takeda said.
The Cabinet Office on Wednesday said the economy grew 1.7 percent in real terms in the December quarter for an annual rate of 7.0 percent, the best performance among the Group of Seven major nations.
The figures were the highest for more than 13 years but the dollar held steady above 105.50 yen at the time and has continued to climb.
Japan wants to prevent a sharp rise in the yen as it hurts exporters by making their goods less price competitive abroad and reduces their repatriated overseas earnings. This in turn could jeopardise Japan's export-led economic recovery.
AUSTRALIAN DOLLAR: The Australian dollar is expected to consolidate next week after briefly passing the 80 US cent-barrier for the first time in seven years, prompting speculation that the central Reserve Bank was intervening to rein in the currency, dealers said.
The currency ended the week at 78.8 US cents, down almost half a cent on last week's 76.29 US cents, after briefly hitting US 80.07 cents Wednesday.
Treasurer Peter Costello said during the week that the Australian dollar had risen 45 percent against the greenback in the past 18 months, with implications for the whole economy, not just exporters.
The Reserve Bank revealed Thursday that it had sold 1.855 billion dollars (1.47 billion US) of Australian currency in January, in what dealers said was an indication it was trying to slow Australia's dizzying recent rise.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 69.68 US cents, down on the previous week's close of 70.10 cents.
SINGAPORE DOLLAR: The US dollar was at 1.6819 Singapore dollars on Friday from 1.6735 the previous week.
INDONESIAN RUPIAH: The rupiah closed the week weaker at 8,434-8,439 to the dollar compared with the previous week's close of 8,402-8,407.
PHILIPPINE PESO: The peso fell to a record low of 56.35 to the dollar Friday compared with 56.10 the week before.
This surpassed the previous record low of 56.22 to the dollar on January 29.
Dealers blamed the fall on continuing political concerns and the Central Bank of the Philippines' decision on Thursday not to raise key benchmark rates to defend the currency.
The currency has been buffeted by the candidacy of movie star Fernando Poe for president in the May 10 elections.
Poe leads in surveys but the business community is concerned because he is a high school drop-out with no experience in public service and has not revealed any economic platform.
SOUTH KOREAN WON: The won weakened to 1,167.30 won Friday, compared with 1,160.10 won per dollar a week earlier, reflecting the yen's rebound against the greenback.
TAIWAN DOLLAR: The Taiwan dollar shed 0.27 percent over the week to close at 33.220 against the greenback Friday. The currency closed at 33.130 the previous Friday.
THAI BAHT: The baht closed Friday at 39.11-39.22 baht to the dollar compared with the previous week's close of 38.88-90.
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