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SINGAPORE: Most emerging Asian currencies rose on Friday to enjoy weekly gains, helped by a rebound in the Chinese yuan and strong regional stocks, although investors took some profits ahead of the US nonfarm payrolls report due later in the day.
The Indonesian rupiah hit a four-month high, leading the appreciation in regional currencies, as offshore funds such as real money accounts and hedge funds kept buying the country's stocks and bonds.
For the week, the rupiah has risen 1.6 percent against the dollar, according to Thomson Reuters data.
The rupee has risen 1.3 percent so far this week as Indian shares hit a record high on strong foreign demand.
Thailand's baht has gained 1.1 percent, which would be the largest weekly appreciation since the week ended Sept. 20, as some offshore hedge funds covered short-positions with domestic political unrest easing.
The South Korean won rose 0.7 percent on stop-loss dollar selling. Malaysia's ringgit has also been up 0.7 percent.
The Philippine peso appreciated 0.5 percent.
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