Most gain; Indonesian rupiah hits 2-week high after Fitch upgrade

Most Asian currencies edged higher against the dollar on Thursday, with the rupiah leading the gainers in the region and touching a two-week high after Fitch upgraded Indonesias credit rating.

The Indonesian rupiah saw its best session in more than a month after Fitch raised the countrys Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to BBB from BBB minus and said the outlook was stable.

The dollar index, which measures the greenback against a basket of six major currencies, was nearly flat at 0437 GMT.

Markets remain sceptical that the passing of the U.S. tax reform will reverse bond inflows which have underpinned Asian FX this year,Chia added.

The Philippine peso extended gains for a third straight session as it rose 0.4 percent to its highest in six months.

The South Korean won and the Taiwan dollar gained as much as 0.1 percent and 0.2 percent respectively.

The Indian rupee rose slightly while the Thai baht was trading unchanged.

Bucking the trend were the Malaysian ringgit and the Singapore dollar, which slipped 0.1 percent each.

 

INDONESIAN RUPIAH

The rupiah rose as much as 0.3 percent to its highest level in over two weeks.

Fitch said Indonesias resilience to external shocks has steadily strengthened in the past few years on the back of macroeconomic policies that have been geared toward maintaining stability.

Fitchs upgrade may now raise expectations of an upgrade by Moodys next year, given that Moodys has already put Indonesias rating on a positive outlook in early-2017, DBS said in a note on Thursday.

In February, Moodys Investors Service upgraded Indonesias credit rating outlook to positive from stable.

 

CHINESE YUAN

The Chinese yuan rose as much as 0.4 percent to its highest in three months after Chinas central bank set its official yuan midpoint at the highest level in three months at 6.5795 per dollar on Thursday.

 

Source : Nasdaq

Dec 23, 2017


 
Bank note current rate:
  currency buy sell
GBP 18,200 18,420
AUD 10,500 10,630
HKD 1,649 1,707
USD 13,200 13,360
MYR 3,300 3,370
CAD 10,550 10,740
SGD 9,925 10,200
EURO 16,225 16,370
SFR 13,650 13,850
YEN 119 120.60
NZD 9,550 9,740
THB 404 425
NT 432 460
WON 11.64 12.80
DKK 2,074 2,195
SEK 1,587 1,665
BND 9,875 10,200
NOK 1,613 1,695
SAR 3,404 3,560
PHP 246 265
RMB 1,990 2,075
INR 159 210
RUB 178 236
AED 3,501 3,645
   Last Updated :16 Jan 2018 - 04:50 PM
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