Qatar launches wide-ranging WTO complaint against trade boycott
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(Updates prices. For previous report, double click on ) SINGAPORE, Jan 2 (Reuters) - Emerging Asian currencies resumed a depreciation trend early in 2015 as the dollar hit a near nine-year high against a basket of major currencies, helped by the easier monetary policies of other central banks. The Indonesian rupiah slid one percent and hit a two-week low as the governments decision to cut its 2015 fuel subsidy costs failed to cheer investors amid a slowing domestic economy. The Singapore dollar touched a low of 1.3280 versus the U.S. dollar, its lowest level since September 2010 after the city-states economic growth in the fourth quarter was far worse than expectations. South Koreas won slid as a weaker yen increased risk of intervention by the foreign exchange authorities. Last year, emerging Asian currencies fell on expectations of the U.S. Federal Reserves interest rate hikes in 2015 as its economy strengthens. By contrast, Chinas economy kept slowing, darkening the outlook for exports of other Asian countries. Malaysias ringgit was the worst performing emerging Asian currency in 2014 on sliding oil prices, while a weaker yen hurt Northeast Asian units -- the won and the Taiwan dollar. CURRENCIES VS U.S. DOLLAR Change on the day at 0641 GMT Currency Latest bid Previous day Pct Move Japan yen 120.33 119.66 -0.56 Sing dlr 1.3265 1.3239 -0.20 *Taiwan dlr 31.625 31.718 +0.29 Korean won 1102.52 1099.30 -0.29 *Baht 32.87 32.90 +0.08 *Peso 44.72 44.72 +0.00 Rupiah 12505.00 12380.00 -1.00 Rupee 63.28 63.35 +0.11 Ringgit 3.5110 3.4965 -0.41 *Yuan 6.2040 6.2040 -0.00 Change so far in 2015 Currency Latest bid End prev year Pct Move Japan yen 120.33 119.66 -0.56 Sing dlr 1.3265 1.3260 -0.04 Taiwan dlr 31.625 31.718 +0.29 Korean won 1102.52 1099.30 -0.29 Baht 32.87 32.90 +0.08 Peso 44.72 44.72 +0.00 Rupiah 12505.00 12380.00 -1.00 Rupee 63.28 63.03 -0.40 Ringgit 3.5110 3.4965 -0.41 Yuan 6.2040 6.2040 -0.00 ----------------------------------------------- - * Financial markets in China, Philippines, Taiwan and Thailand are closed for holidays. (Reporting by Masayuki Kitano and Jongwoo Cheon in SEOUL, IFR Markets Catherine Tan; Editing by Jacqueline Wong) View comments
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