* Indonesian rupiah at its lowest in a week * Philippine peso firms 0.5%, equities down 1.7% * Indian rupee strengthens 0.3% * Bearish bets on most Asian currencies firm - Reuters poll By Sameer Manekar April 8 (Reuters) - The Indonesian rupiah led the decline among most of Asia's emerging currencies on Thursday after a proposal to expand the central bank's mandate got renewed support from President Joko Widodo. Indonesia's rupiah, which backs some of the highest-yielding debt in emerging markets, lost half a percent on a report that President Widodo was pushing to expand Bank of Indonesia's mandate to include economic growth and job creation.
The Indian rupee posted its first quarterly fall in four on the last day of the 2020/21 fiscal year as a broad rally in the dollar finally rubbed off on the local unit. "Just as INR's artificial relative uptick in mid-March was transient, we think the sharp relative depreciation is more a reflection of reversal of those transient factors than anything structural at play," said Madhavi Arora, lead economist at Emkay Global Financial Services.
The RBI is examining the impact of the digital rupee on the financial stability in the economy.