SINGAPORE: The South Korean won led weekly gains among emerging Asian currencies with funds flowing into the region's battered stocks and bonds, but the Indonesian rupiah on Friday hit a one-month low on election disappointment.
The won ended local trading up 0.5 percent at 1,035.0 per dollar, its strongest domestic market close since August 2008, on exporters' demand for settlements.
Foreign investors extended their buying spree in Seoul's main stock market to a 13th consecutive session, providing more support to the won.
Traders said South Korea's foreign exchange authorities were spotted intervening to slow the appreciation of the won, the best-performing emerging Asian currency of the week.
For the week, the won rose 1.8 percent against the dollar on continuous demand from offshore funds and exporters. That was the largest monthly appreciation since December 2011.
The Philippine peso gained 1.5 percent on inflows amid strong February exports and January foreign direct investments data.
Malaysia's ringgit has advanced 1.5 percent as funds and interbank speculators chased it with lower US Treasury yields.
The Singapore dollar has appreciated 0.9 percent as the central bank is widely expected to maintain its tight monetary policy at its semiannual policy meeting on Monday.
The Indonesian rupiah, however, has lost 0.8 percent on political uncertainties after an unconvincing victory by the main opposition party in parliamentary elections on Wednesday.
Earlier on Friday, the rupiah fell 1.0 percent to 11,465 per dollar, its weakest since March 12, but pared much of the loss as Jakarta shares rebounded.
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