SINGAPORE (Dec 18): The Indonesian rupiah, Malaysian ringgit and Indian rupee all rose on Thursday as an upbeat economic assessment by the U.S. Federal Reserve calmed market nerves.

The South Korean won, however, fell against the dollar after the Fed signalled it was on track to raise interest rates next year, altering a pledge to keep them near zero for a "considerable time" in a show of confidence in the U.S. economy.
 
The rupiah  outperformed and pulled away from a 16-year low of 12,930 set on Tuesday, according to Reuters data, while the Indian rupee clawed away from a 13-month low of 63.89 touched on Wednesday.

Suspected central bank intervention helped bolster the rupiah. In addition, foreign funds were cited as good buyers of Indonesian bonds and equities on Thursday.
 
Indonesia's central bank deputy governor said on Wednesday that Bank Indonesia will continue its role to "stabilise" the rupiah in foreign exchange markets and sovereign bond prices in the secondary market.

The rupiah had seen its drop accelerate earlier in the week  due to year-end corporate demand for dollars and worries that overseas investors were pulling money out of Indonesian bonds.

The ringgit hit a two-week high of 3.4605. It  edged away from a five-year low of 3.5040 set last week, when it fell on worries that sliding oil prices would hurt Malaysia's current account and fiscal deficit.