India rupee slide takes breather, dollar up against yen

TOKYO, August 23, 2013 (AFP) – The dollar’s surge against the Indian rupee took a breather on Friday after hitting record highs for most of the week, although upbeat manufacturing data from around the world helped the greenback against the yen. — Dow Jones Newswires contributed to this article — However, traders remain on edge — particularly in emerging markets — about the US Federal Reserve’s stimulus programme after minutes from the bank’s July meeting failed to clarify its future.

The Indian rupee, which tumbled to another record low of 65.56 to the dollar on Thursday, was changing hands at 64.45 in Friday afternoon trade.

India’s finance minister and central bank governor both tried to calm investors Thursday by reiterating that New Delhi does not plan to introduce capital controls, a fear that had weighed on the unit earlier this week.

The Indonesian rupiah inched down to 10,963 to the dollar from 10,958.

The Thai baht firmed to 31.94 to the dollar against 32.12, with the greenback’s drop below the 32.00 psychological barrier implying a Thai baht recovery off its lows, as stocks in Asia mount a relief rally led by Japan, traders said.

Expectations of an end to the stimulus have seen foreigners in recent months