Currency Markets

The peso hit a record low of 62.77 per dollar as the central bank shifts strategy, acknowledging that defending reserves is futile amid a 29% widening trade deficit and $103 billion in reserves.

The Foreign Exchange Stabilization Fund purchased dollars SK Hynix repatriated after its record $26.5 billion U.S. share sale, a source with direct knowledge said.

The rupee closed at 95.41 Tuesday after breaching key resistance, supported by $2.4 billion in August FPI inflows and a 2 percent crude oil decline.

Analysts say the Bank of Thailand's rate-hold decision offers little lasting support for the baht, with oil-driven pressure keeping policymakers in easing mode.

Japan's Chief Cabinet Secretary's non-committal stance on currency intervention reinforces market uncertainty, prompting a cautious tone across global fixed income and equity markets.