| The currencies reversed earlier gains along with Asian stocks after BNP Paribas SA, France's largest bank, froze redemptions from three of its asset-backed securities funds. |
| NIBC Bank NV, a Dutch investment bank, took a Euro 137 million ($188.7 million) charge on US investments. The rupiah dropped for the third time this week and the peso fell from a two-week high. |
| "The markets are still restive and we're seeing reversals,'' said Steven Chang, global markets vice-president at State Street Bank & Trust Co in Hong Kong. "Investors are still biased against entering Indonesia.'' |
| The rupiah weakened 0.2 per cent to 9,305 per dollar at 3:20 pm local time, according to data compiled by Bloomberg. The peso declined 0.4 per cent to 45.325 against the dollar, according to Tullett Prebon Plc, the world's second-largest inter-dealer broker. |
| Indonesia's benchmark Jakarta Composite Index plunged 1 per cent after its biggest gain in more than a year yesterday. The index declined for the fourth time in five days. |
| "If people fear the risk of emerging markets, then one of the areas they will withdraw from is Indonesia,'' said Suryandy Jahja, a fixed-income trader in Jakarta at PT Kresna Graha Sekurindo. "That is why the rupiah has fluctuated so much.'' |
| The Thai baht dropped for a 12th day in onshore trading on speculation central bank measures imposed last month will stem gains in the currency. The baht traded at 33.99 to the dollar, from 33.97 yesterday, according to data compiled by Bloomberg. |
| The University of the Thai Chamber of Commerce today said its measure of consumer confidence fell in July to the lowest in five years after the arrest of critics of the military junta that seized power in September. The index dropped for a ninth month to 70 from 71, the report showed. |
| "The central bank wants to keep the baht stable and doesn't want to see volatility,'' said Saovarod Hansompob, a foreign exchange trader at Bank of Ayudhya Pcl. |
| The South Korean won rose the most in a week after the central bank unexpectedly raised interest rates to a six-year high. The won gained 0.1 per cent to 922.90 against the dollar as of the 3 pm local close of onshore trading. |
| "The central bank is clearly focusing on growth, which is picking up, as is inflation. We've potentially one or two more rate hikes,'' said Glenn Maguire, chief Asia economist at Societe Generale SA in Hong Kong. |
| The Taiwan dollar was little changed after the Economic Daily News said the central bank supported the local currency yesterday, helping to halt a slide against the dollar. |
| Taiwan's currency was little changed at NT$32.885. Elsewhere, the Malaysian ringgit declined 0.3 per cent to 3.4680 and the Singapore dollar declined 0.1 per cent to S$1.5141. |
| With reporting by Jake Lee in Hong Kong. Editor: Reynolds (sdh) |
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