EM ASIA FX-Most currencies rise on weaker dollar; S.Korean won, ringgit lead gains

(Adds text, updates prices)

By Aditya Soni

Nov 15 (Reuters) - Most Asian currencies firmed against the

dollar on Wednesday after the euro's gains on upbeat German

economic data weakened the greenback.

The euro strengthened to 2-1/2 week highs as Germany's

seasonally adjusted gross domestic product rose by 0.8 percent

on the quarter, beating a Reuters poll, as buoyant exports and

rising company investment in equipment boosted growth.

The dollar index that tracks the U.S. currency

against six major peers was at 93.812, its lowest level since

late October and well below its overnight high of 94.542.

The euro's rise is definitely supporting the Asian

currencies but they are also being helped by some (Asian)

central banks hinting at a possible review of monetary policy,

said said Chang Wei Liang, FX strategist at Mizuho Bank.

Bank Negara Malaysia said last week it may consider

reviewing its current monetary accommodation given the strength

of global and domestic macroeconomic conditions.

Malaysia's inflation for full-year 2017 is expected to come

in at the higher end of its forecast range of 3-4 percent.

The Philippine central bank raised its inflation forecast

for 2018 last week, but kept unchanged its estimates for this

year and 2019. The central bank said it will consider a monetary

policy review depending on how U.S. Federal Reserve policy

changes influence capital flows.

Investors are also waiting for U.S. October consumer

inflation data due later on Wedndesday which is expected to show

a marginal increase in consumer prices.

If the U.S. CPI numbers are softer than anticipated they

could have an impact on Federal Reserve interest rate hikes and

the dollar in the long term, said Chang Wei Liang, FX strategist

at Mizuho Bank.

The Korean won led the gains among regional

currencies for a second day as it gained 0.4 percent, while

Malaysia's ringgit was up nearly a quarter of a percent

to its highest since Nov. 2016.

The Indonesian rupiah, the Taiwan dollar and

Chinese yuan also strengthened marginally.

PHILIPPINE PESO

The Philippine peso firmed 0.2 percent and is on

track for a sixth session of consecutive gains despite a fall in

September remittances, which were down 8.3 percent on the year.

The Philippines is one of the world's largest recipients of

remittances, with millions of Filipinos working overseas sending

home money that helps fund domestic consumption, a key driver of

economic growth.

INDIAN RUPEE

The Indian rupee rose 0.2 percent as oil prices

fell more than 1 percent on Wednesday, continuing Tuesday's

slide.

Oil prices fell after the International Energy Agency cast

doubts over the past few months' narrative of tightening fuel

markets.

India, Asia's second-largest oil importer after China, has

been under pressure lately as rising oil prices could widen its

current account deficit.

The following table shows rates for Asian currencies against

the dollar at 0549 GMT.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0549

GMT

Currency Latest Previous Pct

bid day Move

Japan yen 113.200 113.44 +0.21

Sing dlr 1.359 1.3588 -0.02

Taiwan dlr 30.158 30.180 +0.07

Korean won 1113.50 1118.1 +0.41

0

Baht 33.040 33.07 +0.09

Peso 51.100 51.18 +0.16

Rupiah 13541.0 13550 +0.07

00

Rupee 65.368 65.42 +0.07

Ringgit 4.182 4.1925 +0.25

Yuan 6.635 6.6366 +0.02

Change so far

Currency Latest End 2016 Pct

bid Move

Japan yen 113.200 117.07 +3.42

Sing dlr 1.359 1.4490 +6.61

Taiwan dlr 30.158 32.279 +7.03

Korean won 1113.50 1207.70 +8.46

0

Baht 33.040 35.80 +8.35

Peso 51.100 49.72 -2.70

Rupiah 13541.0 13470 -0.52

00

Rupee 65.368 67.92 +3.90

Ringgit 4.182 4.4845 +7.23

Yuan 6.635 6.9467 +4.70

(Reporting by Aditya Soni in Bengaluru; Editing by Eric Meijer)