Yen, Indonesian Rupiah, India's Rupee: Asia Currency Preview

By Anoop Agrawal

Oct. 8 (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 Takeo Kawamura will hold briefings at 11 a.m. and 4 p.m. in Tokyo. Finance Minister Shoichi Nakagawa is scheduled to meet with the press at 5 p.m. local time.

The yen traded at 101.15 per dollar at 8:58 a.m. in Tokyo.

Indonesian rupiah: The central bank yesterday raised its policy rate yesterday to slow inflation and boost the rupiah after the nation's stock index plunged this week amid the global credit crisis. Governor Boediono and his seven colleagues raised the Bank Indonesia Rate to 9.5 percent from 9.25 percent.

The rupiah traded at 9,595.

Taiwan dollar: Exports fell for the first time in 19 months as demand waned in the island's biggest market mainland China. Overseas shipments declined 1.6 percent in September from a year earlier, the Ministry of Finance said yesterday, a reversal of August's 18.4 percent increase.

The Taiwan dollar traded at NT$32.350.

Indian rupee: The central bank will release on Oct. 10 details of the nation's foreign exchange reserves in the week ended Oct. 3. The reserves declined $153 million to $291.8 billion in the week ended Sept. 26.

The rupee traded at 47.925.

To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net.