* Thailand announces record viral deaths for the third day in a row * The Philippine peso recovers from 11-month lows FX rates around the world are depicted graphically. tmsnrt.rs/2RBWI5E * tmsnrt.rs/2RBWI5E Asian stock exchanges: tmsnrt.rs/2zpUAr4
Soumyajit Saha contributed to this article.
Reuters, July 2 – The baht in Thailand fell to a new 13-month low on Friday, while the rupiah in Indonesia fell to a more than two-month low, knocked down by an increase in local coronavirus cases and a strengthening US dollar.
The dollar soared to a more than 15-month high versus the yen as traders anticipated that a strong U.S. jobs report later in the day would boost the greenback even more.
Thailand’s baht fell by as much as 0.3 percent after the country announced a third day of record coronavirus mortality, despite additional restrictions in some areas.
Since the end of June, the currency has been hovering at its lowest level in almost a year, making it one of the region’s poorest performers thus far in 2021.
“We’re now seeing foreign investors selling out of Thai assets as tighter regulations in Thailand continue to be a headwind,” said Khoon Goh, head of Asia research at ANZ Banking Group (Singapore).
This week, a private industry organization said that the tourism-dependent economy shed 550,000 jobs in the second quarter.
The Indonesian rupiah fell 0.5 percent to its lowest level since April 16, a day after the country announced emergency measures to combat the virus, prompting business groups like the Indonesian Chamber of Commerce and Industry, or Kadin, to ask for financial assistance to avoid layoffs and bankruptcies.
However, the virus’s influence was already visible in June, when the country’s inflation rate fell to 1.3 percent, a 10-month low, and remained below the central bank’s goal range of 2 percent to 4 percent.
“Economic activity is expected to be harmed as a result of the record COVID-19 cases and limitations, which will be an additional headwind for IDR. In the short run, this could result in outflows of foreign investors “According to ANZ’s Goh.
Other developing Asian currencies dropped, with the exception of the Philippine peso, which recovered from a near 11-month low recorded the previous day. Emerging Asian stocks were slightly higher.
Investors slashed long bets across all Asian currencies on Thursday, according to a Reuters poll, as the US dollar strengthened following the Federal Reserve’s recent hawkish tilt and the region faced the spread of the more contagious Delta strain of the coronavirus.
** Indonesian 10-year benchmark yields are up 2.2 basis points to 6.636 percent. ** Malaysian 10-year benchmark yields are down 1.7 basis points to 3.267 percent.
At 0302 GMT, Asian stock indices and currencies were trading.
COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD percent DAILY YTD percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent
-0.05 -7.46 0.29 4.91 -0.05 -7.46 0.29 4.91 -0.05 -7.46 0.29
China -0.08 +0.82 -1.47 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.81 1.
India +0.00 -2.01 0.00 12.15 India +0.00 -2.01 0.00 12.15 India +0.00 -2.01
Indonesia -0.34 -3.51 0.45 0.90 Indonesia -0.34 -3.51 0.45 0.90 Indonesia -0.34 -3
Malaysia -0.13 -3.41 0.05 -5.66 -0.13 -3.41 0.05 -5.66 -0.13 -3.41
Philippines +0.49 -2.28 0.09 -2.37 Philippines +0.49 -2.28 0.09 -2.37 Philippines +0.49 -2.
S.Korea -0.14 -4.27 0.09 14.33 S.Korea -0.14 -4.27 0.09 14.33 S.Korea –
Singapore -0.06 -2.11 0.34 10.23 -0.06 -2.11 0.34 10.23 -0.06 -2.11
Taiwan -0.25 +1.82 0.28 20.58 Taiwan -0.25 +1.82 0.28
Thailand -0.31 -6.81 0.05 10.01 Thailand -0.31 -6.81 0.05 10.01 Thailand -0.31 -6
(Bengaluru-based reporter Soumyajit Saha contributed to this report; Ana Nicolaci da Costa edited it.)/n
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