EM ASIA FX-Asian currencies consolidate in holiday-thinned trade; peso hits 11-1/2 yr low

(Adds text, updates prices)

By Patturaja Murugaboopathy

Feb 19 (Reuters) - Most Asian currencies consolidated on

Monday as low liquidity and an absence of currency market

catalysts limited gains, but strong regional equity markets

propped them up.

South Korea's KOSPI index rose 0.9 percent, while

Singapore's Straits Times index and Malaysia's Bursa

Malaysia KLCI index rose about 1 percent each.

The South Korean won, which resumed trading after

a two-day Lunar New Year holiday, rose nearly 1 percent, leading

the regional currencies' gains on the day.

"In terms of the Asia FX movements, the most of what we are

seeing is the reflection of what happened on the U.S. close on

Friday," said Khoon Goh, head of Asia research at ANZ Banking

Group (Singapore).

"However with most markets closed, we can't read much into

the price action today."

The S&P 500 index rose on Friday to mark its biggest

weekly increase in five years.

Currency markets in China and Taiwan were closed for Lunar

New Year and India is shut for a banking holiday.

The Philippine peso hit its lowest level in more

than 11 years, weighed down by the central bank's decision to

cut banks' reserve requirement ratios.

The Bangko Sentral ng Pilipinas reduced banks' 20 percent

reserve ratio requirement by 1 percent, a move that is expected

to pump more than $1.5 billion into the economy.

"A cut at this time of rising inflationary pressures may

stoke investor concerns of even higher levels of inflation,

which is why the peso sold off this morning," the Bank of

Tokyo-Mitsubishi UFJ said in a report.

The Thai baht also dropped more than a quarter

percent as Thailand's economy grew slightly less than expected

in the fourth quarter.

The Japanese yen, Singapore dollar, Indonesian

rupiah and the Malaysian ringgit all traded

flat on the day.

The dollar found some traction after sharp declines in the

past week due to concerns over widening U.S. trade and budget

deficits and speculation that Washington might pursue a weak

dollar strategy.

The dollar index against a group of six major peers

was steady at 89.045.

"Broader term perspective, we maintain our view that broad

dollar down-trend is likely to remain in place," Maybank said in

a report.

"We see opportunities for relative value plays in Asia,

favouring currencies that benefit from the export-led recovery

and commodity price rebound."

The following table shows rates for Asian currencies against

the dollar at 0617 GMT.

CURRENCIES VS U.S. DOLLAR

Change as of

0617 GMT

Currency Latest Previous Pct

bid day Move

Japan yen 106.490 106.3 -0.18

Sing dl 1.312 1.3118 +0.01

Taiwan dl* 29.342 29.358 +0.05

Korean won 1067.000 1077.2 +0.96

Baht 31.320 31.24 -0.26

Peso 52.340 52 -0.65

Rupiah 13551.00 13557 +0.04

0

Rupee* 64.210 64.21 +0.00

Ring 3.887 3.891 +0.10

Yuan* 6.345 6.3400 -0.08

* Closed for

market holiday

Change so far in

2018

Currency Latest End 2017 Pct

bid Move

Japan yen 106.490 112.67 +5.80

Sing dl 1.312 1.3373 +1.95

Taiwan dl 29.342 29.848 +1.72

Korean won 1067.000 1070.50 +0.33

Baht 31.320 32.58 +4.02

Peso 52.340 49.93 -4.60

Rupiah 13551.00 13565 +0.10

0

Rupee 64.210 63.87 -0.53

Ring 3.887 4.0440 +4.04

Yuan 6.345 6.5069 +2.55

(Reporting by Patturaja Murugaboopathy; Additional reporting by

Gaurav Dogra in Bengaluru; Editing by Eric Meijer)