HONG KONG. May 4: Aslan currencies ended the week on a mixed note with the yen falling despite a new economic package alongside the peso, and Taiwan dollar, reports AFP.
Other major currencies including the Australian and Singapore dollar, the won. the rupiah. the ringgit and the bath ended the week firmer.
JAPANESE YEN: The yen fell against the dollar during the holiday-shortened week as investors gave a bleak welcome to the details of the Japanese government's new economic package unveiled late the previous week.
The yen stood at 133.00-03 to the dollar Friday afternoon, down from 129.76-79 a week earlier. It fell Into the mid-132 range on Monday after investors reacted with disappointment to the package, which lacked permanent income tax cuts.
The currency traded around 132 from Tuesday in relatively light business due to "golden week" holidays. But it lost ground again on Friday, briefly hitting a Tow of 133.19. following strong US GDP data for the first quarter released on the previous day.
AUSTRALIAN DOLLAR: The Australian dollar will spend the coming week digesting a raft of economic data expected to confirm that an Interest rate cut is unlikely soon, analysts said.
On Friday, it closed at 65.34 i US cents, up from 65.12 US
cents a week earlier.
NEW ZEALAND DOLLAR: The New Zealand dollar closed at 55.45 US cents Friday, gaining on the back of the resurgent Australian dollar.
"Probably the biggest impact actually has been the Aussie." a dealer said. "There's been a short market in the Aussie dollar and that has kept it pretty well bid."
SINGAPORE DOLLAR: The Singapore dollar ended the week higher against the US dollar to 1.5845 from 1.5894 the previous week.
HONG KONG DOLLAR: The Hong Kong dollar closed Friday at 7^48-7.749 to the US dollar against 7.7497-7.75 the previous week.
INDONESIA RUPIAH: The rupiah closed trading Friday at 7,885-7.965 to the dollar compared to 7.900-7.950 on Friday the previous week.
MALAYSIAN RINGGIT: The Malaysian ringgit which began on a soft note in the holiday shortened week, closed slightly firmer at 3.7150 ringgit to the dollar from 3.7550 a week earlier.
A dealer said the ringgit Is expected to move narrowly against the greenback in the absence of fresh leads.
PHILIPPINE PESO: The Philippine peso fell 4.3 per cent against the dollar this week, closing at 40.20 pesos to the Sreenback on Thursday, the last ay of trading last week,
Philippine President Fidel Ramos blamed this on uncer-
tainty over the possible election of opposition presidential candidate Vice-President Joseph Estrada In elections on May 11.
SOUTH KOREAN WON: The won strengthened from 1366.70 won to the dollar a week before to close at 1336.0 won Friday as more dollars were flowing in amid the ongoing current account surplus.
TAIWAN DOLLAR: The Taiwan dollar slipped 0.1 per cent from the previous week to close at 33.003 Saturday amid central bank Intervention.
The bank had tried to direct the currency to trade in a narrow-range and it has required local banks and foreign branches here to turn in reports of trading of non delivery forwards to curb speculation.
The unit stood at 33.037 Monday and moved up slightly to 33.010 Tuesday. It rose further to 32.991 Wednesday and 32.970 Thursday. The forex market was closed Friday, a public holiday.
THAI BAHT: The baht closed slightly stronger at 38.55-70 to the dollar Thursday after a holiday-shortened week. from its ?revious weekly close of 38.70-5.
The bath is expected to trade In a narrow range this week due to the two days of holiday on Tuesday and Friday, and peculation that the government will take drastic action against central bank executives for mismanagement leading to the economic collapse.