Economic Calendar

Tuesday, April 21, 2009

Japan Yen, Indian Rupee, Thailand Baht: Asian Currency Preview

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By Bob Chen

April 21 (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 and Finance, Economic and Fiscal Policy Minister Kaoru Yosano will hold media briefings after a cabinet meeting in the morning. Kawamura will address reporters again at 4 p.m. in Tokyo.

The yen was at 97.99 against the dollar at 7 a.m. in Tokyo.

Indian rupee: The central bank may refrain today from reducing its benchmark interest rate from a record low of 3.5 percent, according to nine of 15 economists in a Bloomberg News survey. It will reduce the repurchase rate, its overnight lending rate, by half a percentage point to 4.5 percent, nine of 16 economists said in a separate survey. The decisions are due at noon in Mumbai.

The rupee was at 50.325.

Thai baht: The Ministry of Commerce will report March exports, imports and trade balance at 2 p.m. local time. Exports fell 11 percent in February, while imports plunged 40 percent.

The baht was at 35.60.

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




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