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28/12/2013 07:57 AST
Most Asian currencies fell this week as signs of an improving U.S. economy bolstered demand for the dollar amid tapering from the Federal Reserve that’s spurring outflows from emerging markets.
Global funds pulled $3.6 billion from South Korean, Thai, Philippine and Indonesian stocks so far in December as the Fed prepares to pare stimulus in January, exchange data show. The Thai baht led losses this week as the two-month-long political protests escalated, raising concerns about economic growth and tourism. Trading was muted due to closures in many markets for the Christmas holidays, according to Malayan Banking Bhd.
“Most Asian currencies weakened because of the broad dollar strength,” said Saktiandi Supaat, head of foreign-exchange research at Malayan Banking in Singapore. “The positive U.S. data also supports the case for further Fed tapering.”
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Bloomberg
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
US Dollar | 1.00 |
Saudi Riyal | 3.75 |
Derham Emirati | 3.67 |
Qatari Riyal | 3.65 |
Kuwaiti Dinar | 0.30 |
Bahraini Dinar | 0.38 |
Omani Riyal | 0.39 |
Euro | 0.81 |
British Pound | 0.71 |
Japanese Yen | 104.70 |
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