Asian currencies fall amid uncertainty over QE tapering and China slowdown
REUTERS - The Indian rupee and South Korean won led falls among emerging Asian currencies on Wednesday, with investors waiting for the outcome of the United States Federal Reserve's policy meeting for clues on when it will start tapering monetary stimulus, while most regional units were set to slide for July.
The rupee approached a record low on doubts over the central bank's ability to defend the ailing currency, although its downside was limited by intervention, traders said.
Offshore funds sold the South Korean won, while the ringgit hit a fresh three-year low after Fitch Ratings cut Malaysia's credit ratings outlook.
The Singapore dollar and the Thai baht fell to their weakest levels in about three weeks on offers from real money funds.