Rupee to lead Asian currencies' rebound in 2012

Asian currencies will rebound this year led by India's rupee, the worst performer in 2011, said Oversea-Chinese Banking, the most-accurate forecaster for the region in the past six quarters. The rupee will advance 5.1% to 50.5 per dollar by year-end followed by a 3.9% rally to 8,730 by Indonesia's rupiah, according to Singapore's second-largest bank. Barclays Capital, the second-best forecaster as measured by Bloomberg News, expects South Korea's won to outpace the other currencies, climbing 12% to 1,025. "We'll probably see more signs of a nascent recovery perhaps sometime into the second quarter," said Emmanuel Ng, a strategist at OCBC in Singapore. 

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