By Bob Chen
Jan. 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 press briefings at 11 a.m. and at 4 p.m. in Tokyo.
The Ministry of Finance will release at 8:50 a.m. in Tokyo its report on the purchases and sales of Japanese and overseas securities by domestic and foreign investors during the weeks ended Dec. 26 and Jan. 2.
The yen was at 92.56 a dollar at 8:33 a.m. in Sydney.
Taiwan dollar: Exports slumped by a record 42 percent in December from a year earlier, the Ministry of Finance said yesterday. The central bank unexpectedly cut its benchmark interest rate yesterday for the sixth time since late September. It lowered the discount rate on 10-day loans to banks to 1.5 percent, the lowest since 2004, from 2 percent.
The Taiwan dollar traded at NT$32.98.
Hong Kong dollar: Foreign-exchange reserves rose to $182.5 billion at the end of December, the most since records began in 1988, from $165.9 billion the previous month, the Hong Kong Monetary Authority reported yesterday after trading hours.
The local dollar was at HK$7.7514.
Singapore dollar: Foreign reserves at the end of December climbed to $174.2 billion, from $165.7 billion the previous month, the Monetary Authority of Singapore reported yesterday.
The city-state’s currency was at S$1.4715.
Thai baht: The world’s biggest exporter of rice and rubber may produce fewer commodities this year as a global recession weakens buyers’ purchasing power. Rice output may fall 1.6 percent this year from 2008, while rubber production will probably drop 1.3 percent, the farm ministry said yesterday.
The baht was at 34.87.
To contact the reporters on this story: Bob Chen in Hong Kong at bchen45@bloomberg.net.
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