Most Asian currencies barely move; Indonesian rupiah biggest gainer
Most emerging Asian currencies moved only marginally on Friday, with many investors in wait-and-see mode before the G20 summit in Argentina on Nov. 30-Dec. 1.

With U.S. markets closed overnight for Thanksgiving and Japan on holiday on Friday, regional trading activity was muted.

Investors keenly await the meeting of the presidents of the United States and China on the sidelines of G20 in Buenos Aires, hoping it can de-escalate the trade war between the worlds two largest economies.

Mizuho Bank, in a note, warned against being too optimistic on a deal being reached in Argentina. It advised caution over optimism because what the U.S. is seeking requires more concessions that Beijing can possibly concede.

On Friday, the Indonesian rupiah topped gainers among regional currencies, appreciating as much as 0.5 percent to 14,510 to the dollar. It was on track to post a third successive weekly gain.

Indonesia has felt some relief from lower oil prices, as Southeast Asias biggest economy is a net importer of the commodity.

Oil prices resumed their fall on Friday, pressured by concerns that producers are churning out more supply than the world needs amid a far-from-rosy economic outlook.

However, oil markets were offered some support by an expectation that the Organization of the Petroleum Exporting Countries will start withholding supply in 2019 to rein in any glut.

The Philippine peso firmed as much as 0.3 percent to 52.280 against the dollar. The currency was on course for its eighth straight w .

Source : India Times

Nov 23, 2018

 
Bank note current rate:
  currency buy sell
USD 13,775 0
AUD 9,575 0
SGD 9,875 0
CAD 10,600 0
GBP 18,500 0
EURO 15,650 0
SFR 14,975 0
YEN 121 0
NZD 9,150 0
   Last Updated :04 Dec 2021 - 10:16 AM
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