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Peru's central bank cuts benchmark interest rate to 6%

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Singapore, South Korea keep monetary policy unchanged

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Dollar soars as traders cut Fed easing bets

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EM stocks down 0.9%, FX off 0.2%

By Bansari Mayur Kamdar

April 12 (Reuters) - Emerging market currencies eased on

Friday, tracking global risk-off sentiment as investors scaled

back bets for early Federal Reserve rate cuts this year after a

red-hot U.S. inflation print this week.

A resurgent dollar, pushed the emerging market

currencies index 0.2% lower to its lowest level

since February.

Denting investor appetite for riskier emerging market

assets, the dollar hovered near a five-month high after stronger

than expected consumer price data mid-week and commentary from

U.S. central bank officials saying there is no rush to cut

interest rates

Many Asian markets were closed for public holidays for parts

of this week and trading volumes were thin.

The MSCI index for emerging market stocks shed

0.9% and was on track to end a volatile week around flat.

In the week to Wednesday, investors flocked to emerging

market debt for a second straight week of inflows, while

outflows resumed from emerging market stocks, according to a

note by Bank of America.

The Shanghai Composite index and China's blue-chip

CSI300 index closed 0.5% and 0.8% lower, respectively,

on Friday. Both indexes also ended the week lower, dragged down

by real estate stocks and investors worried about the state of

the world's second largest economy.

Customs data on Friday showed China's March exports

contracted sharply, while imports also unexpectedly shrank,

highlighting the difficult task facing policymakers as they try

to bolster economic recovery.

China's yuan was steady, after hitting a five-month low on

Thursday, as the central bank's strong guidance for the currency

offset pressure from a firm dollar.

South Korea's KOSPI slid 0.9% and Singapore's

Straits Times Index fell 0.3%. Central banks in both

countries opted to keep policy unchanged earlier on Friday.

"With inflationary pressures lingering, the currency falling

sharply and expectations of a rate cut by the US Federal Reserve

being pushed back, the prospect of an early rate cut by the Bank

of Korea (which today left interest rates unchanged at 3.5%) has

fallen sharply," Gareth Leather, senior Asia economist at

Capital Economics, said in a note.

Peru's central bank, meanwhile, cut its benchmark interest

rate to 6.00% on Thursday, from a previous rate of 6.25%.

Elsewhere, Britain, Germany and Russia on Thursday urged

countries in the Middle East to show restraint and Israel said

it was preparing to "meet all its security needs" in a region on

edge over an Iranian threat to strike Israel.

HIGHLIGHTS:

** China c.bank set to leave policy rate unchanged

** Vietnam c.bank to increase gold bar supplies to stablise

market

** Indian voters want jobs, price reduction; cheer new Hindu

temple, survey shows