Yen, Korean Won, Thai Baht, Indian Rupee: Asia Currency Preview

By Bob Chen

Sept. 11 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: The Cabinet Office will release monthly machinery orders data for July at 8:50 a.m. in Tokyo. The Finance Ministry will report weekly portfolio flows data at the same time.

Chief Cabinet Secretary Nobutaka Machimura will hold briefings at 11 a.m. and 4 p.m. in Tokyo. Vice Finance Minister Kazuyuki Sugimoto is scheduled to give a briefing at 5 p.m.

The yen was at 107.06 a dollar at 8:21 a.m. in New York.

South Korean won: The central bank may hold the benchmark interest rate at an eight-year high of 5.25 percent at its meeting today, according to all 23 economists surveyed by Bloomberg. The decision is due at 10 a.m. local time.

The won was at 1,095.50.

Thai baht: The People Power Party will decide today whether to support Samak Sundaravej for the post of prime minister after a court ordered him and his cabinet to step down on Sept. 9. Lawmakers will meet on Sept. 12 to choose a new prime minister.

The University of the Thai Chamber of Commerce will report the consumer confidence index for August at 11 a.m. in Bangkok. The gauge in July, which tracked a nationwide survey of 2,244 respondents, climbed for the first time in four months.

The baht was at 34.63.

Indian rupee: Wholesale prices rose 12.01 percent in the week to Aug. 30 from a year earlier, the smallest increase in more than a month, economists said in a Bloomberg survey before the government reports the data at 6 p.m. in New Delhi.

The rupee was at 45.1375.

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