SINGAPORE: Most emerging Asian currencies fell for the week after the US Federal Reserve published its rate hike outlook, while the ringgit hit its weakest in more than four months on Friday after Malaysia's central bank kept interest rates unchanged.
Regional units recovered losses for the day as investors covered short positions ahead of the weekend, and the Chinese yuan strengthened.
The ringgit fell as much as 0.6 percent to 3.2470 per dollar, its weakest since May 8. For the week, the Malaysian currency has slid 1.1 percent to the greenback.
Indonesia's rupiah has depreciated 1.3 percent, underperforming regional peers on sustained concerns over its current account deficit. The rupiah would mark a fifth consecutive week of depreciation, its longest weekly losing streak since late November 2013, Thomson Reuters data showed.
Bank Indonesia senior deputy governor Mirza Adityaswara said a rupiah level between 11,600 and 11,900 against the dollar supported exports.
The rupiah on Thursday weakened past the 12,000 level for the first time since June 30.
The Philippine peso ended the week down 1.1 percent with local financial markets on Friday closed due to heavy rain.
The South Korean won ended down 0.9 percent for the week as offshore funds sold on worries that exporters may lose competitiveness against Japanese rivals due to the yen's weakness. The Taiwan dollar has weakened 0.6 percent.
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