By Bob Chen
Jan. 9 (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 media briefings at 11 a.m. and 4 p.m. in Tokyo.
The Ministry of Finance will release at 8:50 a.m. in Tokyo its data on the nation’s official reserve assets for December.
The Cabinet Office will publish at 2 p.m. in Tokyo its leading and coincident indexes of the world’s second-largest economy for November. The coincident index will fall to 94.9 from 97.7 in October, the second-biggest drop on record, according to a Bloomberg News survey of economists.
The yen traded at 91.09 against the dollar at 8:32 a.m. in Sydney.
South Korean won: The country’s central bank will cut the target rate 50 basis points to 2.5 percent at 10 a.m. local time today following its monetary policy meeting, economists forecast in a Bloomberg News survey.
The Bank of Korea brought the benchmark interest rate down by 100 basis points to a record low of 3 percent on Dec. 11, extending the most aggressive round of easing since it began setting a policy rate in 1999.
The central bank will report producer prices for December at noon today. Prices paid to producers fell 2.3 percent in November from the previous month, the biggest decline since 1963, compared with October’s 0.3 percent drop. Prices rose 7.8 percent in November from a year earlier.
The won traded at 1,332.75.
Malaysian ringgit: Industrial production fell 6.5 percent in November from a year earlier, the biggest drop since December 2004, economists forecast in a Bloomberg News survey before the Department of Statistics report at 12 noon.
The ringgit was at 3.535.
Indian rupee: Wholesale prices rose 6.16 percent in the week ended Dec. 27 from a year earlier, the smallest increase in 10 months, according to a Bloomberg News survey of economists. The government will report the data today.
The rupee was at 48.765.
Thai baht: The central bank will report foreign-exchange reserves and holdings of forward contracts for the week ended Jan. 2 at 2:30 p.m. local time.
The baht was at 34.83.
Indonesian rupiah: The central bank may report December consumer confidence as early as today. The index rose for a fifth month to 96.3 in November. A reading below 100 indicates pessimists outnumber optimists.
The rupiah was at 11,013.
To contact the reporters on this story: Bob Chen in Hong Kong at bchen45@bloomberg.net.
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