DHAKA: Most emerging Asian currencies eased on Thursday as military action against rebels in Yemen and losses on Wall Street undermined risk sentiment.

The South Korean won fell as foreign exchange authorities were spotted intervening to curb its strength, traders said.

Malaysia’s ringgit and Indonesia’s rupiah slid on corporate US dollar demand, reports The Straits Times.

The Philippine peso eased ahead of the central bank’s policy meeting later in the day when the authority is expected to keep interest rates unchanged.

Asian stocks skidded as Saudi Arabia and its Gulf Arab allies started a military operation in Yemen. US equities on Wednesday also lost ground with the Nasdaq suffering its largest decline in nearly a year.

BDST: 1225 HRS, MAR 26, 2015