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Indian rupee

BOMBAY: The Indian rupee ended little changed against the dollar in thin trade on Monday.

Dealers said but for light dollar buying by the state-run State Bank of India (SBI) in early deals, there was little activity.

The rupee ended at 43.615/62 per dollar compared with its previous close of 43.62/625.

"There were bids for dollars until noon, then the selling started. There is also the high carry cost preventing the dollar from moving up," a dealer with a private bank said.

Overnight call money rates were in higher ranges of 9.75-10.0 percent in the morning amid a funds crunch which dealers said was part of the central bank's move to check an overheated bonds market that had seen a very sharp rally in recent weeks.

Bonds have been rising on hopes interest rates will be cut around the annual budget announcement on February 29.

The six-month premium ended marginally lower at 2.7 percent on Monday compared with the previous close of 2.75.-Reuters

Indonesian rupiah

JAKARTA: The Indonesian rupiah firmed on Monday following offshore dollar selling after President Abdurrahman Wahid dumped General Wiranto from cabinet, triumphing in a two-week battle of wills.

The rupiah was quoted at 7,240/7,270 to the dollar versus 7,275/7,305 in late local trade on Friday.

Wahid suspended the former military chief from cabinet just hours after saying Wiranto could stay as coordinating minister for political and security affairs pending in investigation of the military's role in last year's bloodshed in East Timor.

Bank Indonesia said 5.8 trillion of rupiah funds matured early on Monday. The benchmark overnight interbank rate hovered at around 9.375 percent for foreign banks and around 9.50 percent for local banks.-Reuters

Chinese yuan

SHANGHAI: China's yuan closed marginally higher against the dollar in thin trade on Monday as bank traders took a wait-and-see attitude ahead of an official announcement of foreign trade data for January, dealers said.

The yuan ended at an intraday high of 8.2778 to one U.S. dollar against 8.2780 on Sunday. It touched a low of 8.2782.

The government is expected to announce January's trade data this week.

Dealers said the January trade figures would be the key factor in the yuan's movement in the near term.

If the data showed strong exports and a strong trade surplus, the yuan would move around the 8.2780 level. Otherwise, it would fall slightly to around 8.2800, they said.

Traders said figures on January's turnover on the market, the China Foreign Exchange Trade System, had no impact on trading.

The official Shanghai Securities News reported on Monday that turnover on the market hit $4.015 billion in January.

The yuan closed lower against the Japanese yen at 7.6090 to 100 yen compared with 7.5500 on Sunday. It ended little changed against the Hong Kong dollar at 1.0630 to HK$1.0 from 1.0631. -Reuters

S Korean won

SEOUL: The South Korean won was weaker against the dollar on Monday as foreign stock buying plummeted along with the stock market's sharp consolidation, dealers said.

Verbal intervention by the Ministry of Finance and Economy just before opening also helped curb dollar unloading, dealers said.

The won stood at 1,118.5 per dollar by noon against Friday's close of 1,115.3, its strongest finish since November 26, 1997, when it ended at 1,110.

It opened at 1,115.5 and moved between 1,114.6 and 1,118.5. "Foreign net stock buying, including in the Kosdaq trading, was only 60 billion won this morning, against a daily average of 250 billion won last week," said a local dealer said.

Just prior to the forex market's opening bell, the ministry said in a statement it was "greatly concerned" about the won's recent steep rise against the dollar.

It said the government's position on the won/dollar exchange rate had not changed and it would take action if necessary to stabilise the currency market. Dealers said the won/dollar rate would likely stay to a range of 1,115-1,120 -Reuters

Taiwanese dollar

TAIPEI: The Taiwan dollar ended sharply lower against the U.S. dollar on Monday as the central bank actively bought the greenback to reverse the local unit's early gains.CLOSE: T$30.72 to the U.S. dollar, sharply lower than Friday's T$30.625 finish. On the smaller Cosmos market, the Taiwan currency ended at T$30.65 compared to Friday's close at T$30.618.

TURNOVER THROUGH DEALERS: heavy at US$527 million, expanding from Friday's US$488 million. Cosmos turnover edged up to US$153 million from US$121 million on Friday.

The Taiwan dollar opened firmer at T$30.595 to the U.S. dollar and remained strong in morning trade. It then reversed course, slipping to as low as T$30.775 after the central bank entered to buy the U.S. dollar actively.Dealers said foreign fund inflows, which were the main driving force behind the Taiwan unit's recent gains, showed signs of slowing on Monday, which prompted the central bank to take the chance to warn speculation over the unit's uptrend.

"The central bank acts to reverse the Taiwan dollar's uptrend -- a move no doubt aimed to calm down exporters," said one dealer in a local bank.

Dealers said the recently buoyant Taiwan dollar had sparked complaints from exporters, prompting the central bank to brake the local unit's upturn.

Foreign funds were net sellers of T$2.17 billion in local equities on Monday, following net buying of T$31.078 billion last week over three consecutive sessions after the local stock market reopened on Wednesday for the Year of the Dragon.

For Tuesday, dealers expected a trading range of T$30.62-T$30.72 for the Taiwan dollar.-Reuters

Philippine peso

MANILA: The Philippine peso finished at a one-month closing high on Monday due to weak dollar demand and some inflows from overseas offices of local banks, traders said.

The peso closed at 40.375 to the dollar against Friday's 40.44. It was stuck within a tight range of 40.41 to 40.435 in morning trade but some dollar inflows allowed the peso to rise to 40.35 in afternoon trade.

The local unit last closed at the 40.30 level on January 10 but hit an intra-day high of 40.31 two weeks ago. "It was just range trading today.

The peso firmed up despite an across-the-board decline in Treasury bill rates at the regular weekly auction on Monday. The benchmark 91-day T-bill fell to 8.79 percent from last week's 8.897 percent.

Regional currencies were also steady to firmer, with the rupiah gaining after Indonesia dropped former military chief General Wiranto from its cabinet.

Turnover was slow at $96.10 million against Friday's $161.70 million.

Traders said the peso might range from 40.35 to 40.50 in the coming sessions, with the market expected to take its cue from other regional currencies.-Reuters