AGL 40.74 Increased By ▲ 0.71 (1.77%)
AIRLINK 128.34 Increased By ▲ 0.64 (0.5%)
BOP 6.68 Increased By ▲ 0.07 (1.06%)
CNERGY 4.54 Decreased By ▼ -0.06 (-1.3%)
DCL 9.18 Increased By ▲ 0.39 (4.44%)
DFML 41.70 Increased By ▲ 0.12 (0.29%)
DGKC 87.00 Increased By ▲ 1.21 (1.41%)
FCCL 32.68 Increased By ▲ 0.19 (0.58%)
FFBL 64.56 Increased By ▲ 0.53 (0.83%)
FFL 11.61 Increased By ▲ 1.06 (10.05%)
HUBC 112.49 Increased By ▲ 1.72 (1.55%)
HUMNL 14.95 Decreased By ▼ -0.12 (-0.8%)
KEL 5.03 Increased By ▲ 0.15 (3.07%)
KOSM 7.30 Decreased By ▼ -0.15 (-2.01%)
MLCF 40.70 Increased By ▲ 0.18 (0.44%)
NBP 61.60 Increased By ▲ 0.55 (0.9%)
OGDC 196.50 Increased By ▲ 1.63 (0.84%)
PAEL 27.56 Increased By ▲ 0.05 (0.18%)
PIBTL 7.71 Decreased By ▼ -0.10 (-1.28%)
PPL 154.20 Increased By ▲ 1.67 (1.09%)
PRL 26.87 Increased By ▲ 0.29 (1.09%)
PTC 16.40 Increased By ▲ 0.14 (0.86%)
SEARL 83.88 Decreased By ▼ -0.26 (-0.31%)
TELE 7.84 Decreased By ▼ -0.12 (-1.51%)
TOMCL 36.45 Decreased By ▼ -0.15 (-0.41%)
TPLP 8.93 Increased By ▲ 0.27 (3.12%)
TREET 17.10 Decreased By ▼ -0.56 (-3.17%)
TRG 59.20 Increased By ▲ 0.58 (0.99%)
UNITY 27.90 Increased By ▲ 1.04 (3.87%)
WTL 1.33 Decreased By ▼ -0.05 (-3.62%)
BR100 10,000 No Change 0 (0%)
BR30 31,002 No Change 0 (0%)
KSE100 94,960 Increased By 768 (0.82%)
KSE30 29,500 Increased By 298.4 (1.02%)

The Indonesian rupiah firmed to an eight-month peak on Wednesday, boosted by robust growth data, while most other currencies in the region remained subdued in holiday-thinned trade.

The rupiah, which has outperformed most of its regional peers since the turn of the year, firmed 0.5 percent after data showed Indonesia's economy posted slightly faster than forecast growth in the fourth quarter and its full-year 2018 expansion was the best in five years.

"The (emerging) markets are a lot more instinctive to bullishness after the Fed shifted its stance" said Jeffrey Halley, a senior market analyst at OANDA, Singapore.

The outlook for emerging Asian units has improved this year, after massive capital outflows in 2018, aided by a dovish turn of the U.S. Federal Reserve and signs of progress in the long drawn Sino-U.S. trade war.

However, market holidays and absence of catalysts kept most other currencies range bound, with the units hardly reacting to U.S. President Donald Trump's State of the Union address.

We have been through the State of the Union speech, so unless there is some big news, I think the movements will be limited this week, Halley said.

The Indian rupee ticked up 0.1 percent, benefiting from weakness in oil prices, which could help lower the economy's massive oil bills.

The Singapore dollar slid 0.1 percent, while the Thai baht firmed 0.1 percent.

The Chinese yuan, South Korean won, Taiwan dollar and Malaysian ringgit did not trade due to market holidays.

The following table shows rates for Asian currencies against the dollar at 0549 GMT.

Copyright Reuters, 2019

Comments

Comments are closed.