EM ASIA FX-Most set for losing week, Indian rupee gains

* Currencies muted ahead of OPEC meeting

* Yuan on track for worst week since Nov. 2016

* Indian rupee sole gainer for the week

(Adds text, updates prices)

By Ambar Warrick

June 22 (Reuters) - Most Asian currencies trod water on

Friday, and with the exception of the Indian rupee they were set

to end the week lower, partly due to concerns over a brewing

trade war and caution ahead an OPEC meeting later in the day.

The Chinese yuan eased about 0.15 percent to a

more than five-month low against the dollar. Mounting trade

tensions between China and the United States has weighed heavily

on the yuan, which is set for its worst week since November

2016.

The Chinese central bank set the yuan's official midpoint

slightly lower for the day.

"We think China is still comfortable with current mild

depreciation as the yuan is one of the best performers in global

currency market year-to-date, though they will watch out for the

pace of movement closely," OCBC said in a research note.

The Philippine peso also fell, losing about 0.2

percent to the dollar. The currency was the worst performer

amongst its peers this year, and was on track to end lower for a

third consecutive week.

The South Korean won recovered after touching a

more than 7-month low in its previous session. The won has lost

largely on foreign selling this year, a trend also mirrored in

South Korean equities.

The won was on track to lose about 1 percent for the week.

The Thailand baht extended gains against the dollar

from Thursday, as exports strengthened in May. The baht was

still on track for its worst week since September 2015.

INDIAN RUPEE

The Indian rupee rose 0.2 percent to the dollar,

extending gains into a third straight session, and was the only

one among its peers set for a weekly gain.

“The rupee is moving with the overall dollar sentiment,

which has been fickle over the last few days. However, crude oil

was down since yesterday and for India, crude is a big worry.

So if crude comes down, it also provides some comfort to the

rupee,” said Nitin Agarwal, director at Barclays Bank, Mumbai.

Oil prices dipped on Thursday as Iran signalled it could be

won over to a small rise in OPEC crude output. India is a large

importer of crude.

India, the world's biggest buyer of U.S. almonds, raised

import duties on the commodity by 20 percent, a government order

said, joining the European Union and China in retaliating

against the country's tariff hikes on steel and aluminium.

The following table shows rates for Asian currencies against

the dollar at 0530 GMT on Friday.

Change on the day at 0530 GMT

Currency Latest bid Previous day Pct Move

Japan yen 110.000 109.98 -0.02

Sing dlr 1.356 1.3580 +0.15

Taiwan dlr 30.325 30.302 -0.08

Korean won 1108.400 1112.8 +0.40

Baht 32.890 32.95 +0.18

Peso 53.410 53.283 -0.24

Rupiah 14095.000 14098 +0.02

Rupee 67.868 67.98 +0.17

Ringgit 4.010 4.014 +0.10

Yuan 6.500 6.4940 -0.09

Change so far in 2018

Currency Latest bid End 2017 Pct Move

Japan yen 110.000 112.67 +2.43

Sing dlr 1.356 1.3373 -1.38

Taiwan dlr 30.325 29.848 -1.57

Korean won 1108.400 1070.50 -3.42

Baht 32.890 32.58 -0.94

Peso 53.410 49.93 -6.52

Rupiah 14095.000 13565 -3.76

Rupee 67.868 63.87 -5.89

Ringgit 4.010 4.0440 +0.85

Yuan 6.500 6.5069 +0.10

(Reporting by Ambar Warrick in Bengaluru, Editing by Simon

Cameron-Moore)