Yen, Korean Won, Taiwan Dollar, Ringgit: Asian Currency Preview

By Bob Chen

Dec. 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 Finance Ministry releases weekly portfolio flows data at 8:50 a.m. in Tokyo.

Chief Cabinet Secretary Takeo Kawamura will hold briefings at 11 a.m. and 4 p.m. in Tokyo. Vice Finance Minister Kazuyuki Sugimoto is scheduled to give a press conference at 5 p.m.

The yen was at 92.63 a dollar at 8:33 a.m. in Sydney.

South Korean won: The central bank will reduce its benchmark interest rate today by half a percentage point to 3.5 percent, according to 10 of 16 economists surveyed by Bloomberg. Four expect a quarter-point cut and two predict policy makers will slash the rate to 3.25 percent. The central bank cut rates by a record 75 basis points on Oct. 27 and a further quarter point to 4 percent on Nov. 7.

The won was at 1,393.95.

Taiwan dollar: The central bank will lower its discount rate on 10-day loans to 2.25 percent from 2.75 percent in its quarterly policy meeting today, according to a Bloomberg News survey. The Central Bank of the Republic of China (Taiwan) has cut its benchmark interest rate four times since September.

The Taiwan dollar was at NT$33.449.

Chinese yuan: Inflation slowed to a 19-month low in November, a government report may show today. Consumer prices rose 3.3 percent from a year earlier, the smallest increase since April 2007, economists said in a Bloomberg survey before the statistics bureau report at 10 a.m. local time.

The yuan was at 6.8633.

Thai baht: The University of the Thai Chamber of Commerce will report November consumer confidence at 11 a.m. in Bangkok. The index fell to 68.6 in October, a one-year low.

The baht was at 35.36.

Malaysian ringgit: Industrial output fell 2.8 percent in October from a year earlier, the biggest drop since December 2004, economists said in a Bloomberg survey before a report at 12:01 p.m. local time.

The ringgit was at 3.6137.

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