The following events and economic reports may influence trading in Asian currencies today.
Exchange rates are from the previous session.
Japanese yen: Finance Minister Koji Omi, Economic and Fiscal Policy Minister Hiroko Ota and Chief Cabinet Secretary Yasuhisa Shiozaki will hold press conferences after a cabinet meeting scheduled to start at 8:30 a.m. Shiozaki will hold a second briefing at 4 p.m.
The yen was at 123.74 against the dollar as of 7:56 a.m. in Sydney.
Indian rupee: Inflation slowed for the ninth week to the least since May 2006, a government report may show. Wholesale prices probably rose 4.45 percent in the week ended June 9, compared with a gain of 4.8 percent the previous week, according to the median estimate of 10 economists surveyed by Bloomberg. The Ministry of Commerce & Industry will release the report at noon in New Delhi. Reserve Bank of India Governor Yaga Venugopal Reddy will attend a meeting of the Bank for International Settlements in Basel, Switzerland tomorrow.
The central bank will detail data on changes in foreign exchange reserves in the week to June 15. Reserves rose $1.17 billion in the previous week to $209.55 billion.
The rupee was at 40.760 against the dollar in Mumbai.
Taiwan dollar: Taiwan will release unemployment information tomorrow at 4 p.m. local time. The jobless rate was 3.94 percent in May compared with 3.96 percent in April, according to 11 economists surveyed by Bloomberg.
Taiwan's central bank raised benchmark interest rates for the 12th straight quarter by more than expected to 3.125 percent yesterday. The previous rate was 2.875 percent.
The Taiwan dollar closed at NT$32.928 per dollar.
China yuan: Central bank Deputy Governor Wu Xiaoling said yesterday China will seek to keep the yuan stable, rebuffing pressure from U.S. politicians and the International Monetary Fund to quicken gains to help solve global trade imbalances.
The yuan closed at 7.6188.
Indonesian rupiah: The central bank predicts a stronger rupiah will support economic growth by making imports more affordable and curbing inflation, Deputy Governor Aslim Tadjuddin said yesterday. ``In the long run, if appreciation is quite sharp, that's good for our economy,'' he said in an interview in Jakarta.
The rupiah was at 9,015 per dollar.
source:bloomberg.com
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