Japan's Yen, Malaysian Ringgit, Rupee: Asia Currency Preview

By Aaron Pan

July 28 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: Chief Cabinet Secretary Nobutaka Machimura will hold briefings at 11 a.m. and 4 p.m. in Tokyo. Vice Finance Minister Kazuyuki Sugimoto will address reporters at 5 p.m.

The yen was at 107.87 per dollar at 7:02 a.m. in Tokyo.

Taiwan dollar: The June leading index, a gauge of economic conditions three months ahead, is due today. It climbed 0.1 percent in May from the previous month.

The Taiwan dollar was at NT$30.407.

Malaysian ringgit: The central bank unexpectedly left the benchmark interest rate unchanged at 3.5 percent at a meeting on July 25, saying ``the immediate concern is to avoid a fundamental economic slowdown.'' The decision came after local trading hours.

The ringgit was at 3.25.

Indian rupee: Central bank officials meet tomorrow to review monetary policy. Policy makers last month raised the benchmark interest rate twice to a six-year high of 8.5 percent.

The rupee was at 42.265.

To contact the reporter on this story: Aaron Pan in Hong Kong at apan8@bloomberg.net.