Emerging FX-Rupiah and peso fall, ringgit hits 14-wk low

SINGAPORE, June 27 (Reuters) The high-yielding Indonesian rupiah and Philippine peso fell further on Wednesday as investors pared back riskier positions amid persistent worries about the US subprime mortgage market.

The rupiah slipped as far as 9,123 per dollar, down about 0.6 percent from late Asian trade on Tuesday and a two-week low, while the peso fell almost a third of a percent to 46.48 per dollar.

''Most selling is from foreign banks, the rupiah may reach to 9,130 today,'' said a dealer in Jakarta.

The rupiah, now the second worst-performing currency in Asia after the Japanese yen, has shed more than 4 percent over the past month amid jitters of rising global interest rates, while the peso has lost about 0.9 percent.

Falling stock markets, in part stemming from concerns about the exposure of U.S. lenders to subprime mortgages in a declining housing market, have reduced investment interest in risky assets.

Such worries and a warning against one-way bets by Japan's finance minister Koji Omi on Tuesday helped cool investor appetite for yen carry trades and boosted the Japanese currency.

The Malaysian ringgit fell as far as 3.489 per dollar, down almost 0.5 percent and hitting a 14-week low.

''Maybe some money is going out from Malaysia ... it spooked the market a little bit,'' said a dealer in Kuala Lumpur.

The ringgit has shed about 2.8 percent over the past month, reflecting investor disappointment that the pace of appreciation seen since late last year didn't pick up after officials had expressed tolerance for a stronger currency.

The Chinese yuan hovered near 7.6158 per dollar, slightly weaker than the post-revaluation high of 7.6145 hit on Tuesday, after the central bank set the mid-point rate at 7.6165.

CURRENCIES VS US DOLLAR Change on the day at 0321 GMT Currency Latest bid Previous day Pct Move Japan yen 123.11 123.20 +0.07 Sing dlr 1.5383 1.5375 -0.05 Taiwan dlr 32.787 32.764 -0.07 Korean won 927.00 926.20 -0.09 Baht 34.51 34.53 +0.06 Peso 46.45 46.34 -0.24 Rupiah 9110.00 9070.00 -0.44 Ringgit 3.4855 3.4725 -0.37 Yuan 7.6155 7.6159 +0.01 Change so far in 2007 Currency Latest bid End prev year Pct Move Japan yen 123.11 119.01 -3.33 Sing dlr 1.5383 1.5337 -0.30 Taiwan dlr 32.787 32.585 -0.62 Korean won 927.00 0929.50 +0.27 Baht 34.51 36.08 +4.55 Peso 46.45 49.03 +5.55 Rupiah 9110.00 8988.00 -1.34 Rupee 40.94 44.26 +8.11 Ringgit 3.4855 3.5270 +1.19 Yuan 7.6155 7.8051 +2.49 REUTERS LPB RAI0933