Japan's Yen, Indian Rupee, Thai Baht: Asia Currency Preview

By Bob Chen

Aug. 29 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: The government will report the consumer price index, the jobless rate and household spending data at 8:30 a.m. in Tokyo. Industrial production and retail sales figures are also due at 8:50 a.m.

Finance Minister Bunmei Ibuki, Economic and Fiscal Policy Minister Kaoru Yosano and Chief Cabinet Secretary Nobutaka Machimura will hold briefings after a cabinet meeting this morning. Machimura will hold a second briefing at 4 p.m.

The yen was at 109.51 a dollar at 8:38 a.m. in New York.

South Korean won: Industrial production rose 7.9 percent in July following a 6.7 percent increase the previous month, economists said in a Bloomberg survey before the government reports the data at 1:30 p.m. local time. The central bank will report July current-account balance at 8 a.m.

The won was at 1,081.80.

India rupee: Gross domestic product expanded 8 percent in the quarter ended June, the slowest pace in almost three years, economists said in a Bloomberg News survey before the government reports the data at noon in New Delhi. The central bank will detail the nation's foreign-exchange reserves for the week ended Aug. 22 at 5 p.m. in Mumbai.

Wholesale prices rose 12.40 percent in the week ended Aug. 16 from a year earlier, following a 12.63 percent gain the previous week, a report showed after trading hours yesterday.

The rupee was at 43.7735.

Thailand's baht: The current-account balance slipped into a deficit of $706 million in July, following a $722 million surplus the previous month, economists said in a Bloomberg survey before the Bank of Thailand reports the data at 2:30 p.m. in Bangkok. Manufacturing production increased 9.7 percent in July from a year earlier, after rising 11.2 percent the previous month, another report may show today.

The baht was at 34.11.

Malaysian ringgit: The central bank will report second- quarter growth at 6 p.m. The economy expanded 6 percent, the slowest in a year, versus 7.1 percent in the first quarter, according to a Bloomberg News survey of economists.

The ringgit was at 3.3875.

To contact the reporter on this story: Bob Chen in Hong Kong at bchen45@bloomberg.net.