The Indonesian rupiah rose in a catch-up rally on Tuesday after a long holiday while other Asian currencies paused after heated gains stoked by the yuan's new highs and capital inflows in the past week. The rupiah had gained nearly half a percent against the dollar by early afternoon, taking its rise in the past week to 0.7 percent compared with a 1.5 percent appreciation for the baht and 1.4 percent for the South Korean won.
The MSCI index of Asian shares outside Japan was up 0.12 percent while Japan's benchmark Nikkei average shed a quarter percent. The Indonesian rupiah gained half a percent to 8,956 per dollar by early afternoon, supported by inflows as trading resumed after an extended Eid public holiday.
The Thai baht was steady near its 13-year high of 30.74 per dollar, buttressed by the firm yuan. Dollar/baht was bid at 30.74 at 0609 GMT against 30.71 late on Monday. The baht has gained 1.46 percent in the past week and 8.4 percent this year.
The South Korean won held steady against the dollar as exporters' demand for settlements offset dollar short-covering amid caution over further intervention by the foreign exchange authorities. The won was quoted at 1,160.9 per dollar against its Monday close of 1,160.8. It opened at 1,159.0, but eased to as low as 1,163.8, although its outlook remained bullish due to exporters' demand and as foreign investors continued to purchase local shares.
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