ASIA FOREX - MARCH 11, 2009

TAIPEI - The U.S. dollar lost ground against the New Taiwan dollar on the Taipei Foreign Exchange Wednesday, falling NT$0.085 to close at NT$34.515.

RUPIAH STRENGTHENS 112 POINTS ON WEDNESDAY MORNING

JAKARTA - The rupiah strengthened 112 point against the US dollar in the Jakarta interbank spot market on Wednesday morning, as investors purchased the Indonesian currency.

The rupiah was opened at Rp11,868/11,870 on Wednesday morning compared to Rp11,980/12,050 at the market?s close a day earlier.

FOREX - U.S. DOLLAR WEAKER AGAINST YEN - MARCH 11, 2009

TOKYO - The U.S. dollar was trading at 98.62- 98.64 yen at 4:41 p.m. Wednesday, down 0.01 yen.

ASIA PULSE

SOUTH KOREAN WON HITS ONE-MONTH HIGH ON FOREIGN STOCK BUYING

SEOUL - The South Korean currency rose to a one-month high against the U.S. dollar on Wednesday, extending its gains for the fourth session, as foreign investors went on a buying spree of local stocks, dealers said.

The local currency closed at 1,471 won to the greenback, up 40.5 won or 2.75 per cent from Tuesday and the highest level since February 18.

FOREX - US DOLLAR WEAKER AGAINST BAHT - MARCH 11, 2009

BANGKOK - The US dollar was trading at 36.0350 baht at 2.34 p.m. Wednesday, down from 36.0500 baht at 2.38 p.m. Tuesday.

FOREX - US DOLLAR DOWN AGAINST SINGAPORE DOLLAR - MARCH 11, 2009

SINGAPORE - The US dollar was trading at 1.5408 Singapore dollars at 3.34 p.m Wednesday, weaker than 1.5409 Singapore dollars at 3.38 p.m Tuesday.

HONG KONG CHOSEN FOR YUAN SETTLEMENT PILOT

BEIJING - A pilot project involving yuan-denominated settlement of trade deals would start from Hong Kong, the central bank's assistant governor Guo Qingping said in Beijing.

Guo said cross-border trading activity would benefit from the move. He said the project was likely to be extended to other cities if the pilot project succeeds.

FOREX - AUSTRALIAN DOLLAR ENDS STRONGER - MARCH 11, 2009

SYDNEY - The Australian dollar has closed higher despite weak Chinese trade data battering the currency during Wednesday's session.

At 1700 AEDT, the Australian dollar was trading at $US0.6430 33, up from Tuesday's close of $US0.6382/86.

ONLY BANKS TO EXCHANGE CURRENCY IN KAZAKHSTAN: NATIONAL BANK

ASTANA - The National Bank of Kazakhstan is planning on initiating legislation under which only banks would be allowed exchange currency, said Chairman of the National Bank Grigory Marchenko on March 1.