SINGAPORE: The rupee hit three-week lows on Friday, leading declines among emerging Asian currencies as solid US data revived worries the Federal Reserve might start cutting its monetary stimulus soon. Some of Friday's initial losses for emerging Asian currencies were pared by news that two surveys showed China's manufacturing sector grew at the fastest pace in 18 months in October. Still, most regional units were poised to see weekly slides as the dollar hit a two-week high against a basket of major currencies. Business activity in the US Midwest rose more than expected in October and weekly US jobless claims also fell, data showed. The rupee fell as much as 0.8 per cent to 61.96 per dollar, its weakest since Oct. 10. Indian factories cut production in October with overall activity contracting for the third straight month, while other Asian factory sectors grew at their fastest pace in months led by China. For the week, the Indonesian rupiah was on track to be worst performing emerging Asian currency, with a 2.7 per cent loss against the dollar. If that loss is maintained, this will be the rupiah's largest weekly fall since late August, according to Thomson Reuters data. The Malaysian ringgit has lost 0.9 per cent while the rupee has fallen 0.7 per cent. The Singapore dollar has eased 0.5 per cent and the Thai baht has shed 0.4 per cent. The Philippine peso, which did not trade in the local market on Friday due to a holiday, slid 0.4 per cent this week.

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