Yen, South Korean Won, Indonesian Rupiah: Asia Currency Preview

By Bob Chen

Sept. 5 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: The Finance Ministry will release quarterly capital expenditure data at 8:50 a.m. in Tokyo.

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. in Tokyo.

The yen was at 108.22 a dollar at 8:30 a.m. in New York.

South Korean won: The central bank will release a report on economic growth for the second quarter at 8 a.m. local time. Governor Lee Seong Tae said yesterday the central bank has enough foreign-currency reserves to help protect the economy from external shocks and there is no need to worry that the country is facing a financial crisis.

The won was at 1,129.

Taiwan dollar: Consumer prices in August rose 5 percent from a year earlier, cooling from a 14-year high of 5.92 percent in July, according to a Bloomberg News survey of economists before the government reports the data at 4 p.m.

The Taiwan dollar was at NT$31.761.

Philippine peso: Annualized inflation quickened to 12.5 percent in August, from 12.2 percent in July, a Bloomberg News survey showed before a government report at 9 a.m. The central bank will report today foreign-exchange reserves for August.

The peso was at 46.54.

Thai baht: The central bank is scheduled to report the nation's foreign-exchange reserves as of Aug. 29 at 2:30 p.m. in Bangkok. Reserves were at $101.7 billion at the end of the previous week.

The baht was at 34.44.

Indonesian rupiah: The central bank said yesterday it remains ``on alert'' to fight inflation after raising its benchmark interest rate by a quarter-percentage point to 9.25 percent, the fifth increase since May. The central bank may report as early as today the nation's foreign-exchange reserves as of Aug. 31. They climbed to $60.56 billion in July from $59.45 billion the previous month.

The rupiah was at 9,254.

Indian rupee: Wholesale prices rose 12.34 percent in the week ended Aug. 23 from a year earlier, after increasing 12.40 percent the previous week, Trade Minister Kamal Nath said yesterday after trading hours.

The rupee was at 44.375.

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