(Adds text, updates prices) By Aaron Saldanha Dec 4 (Reuters) - Most Asian currencies weakened on Monday with the dollar getting a lift from the U.S. Senate's approval of a tax overhaul plan at the weekend. The Senate deal moves Republicans and President Donald Trump a big step closer to their goal of slashing taxes in what would be the largest change to U.S. taxation since the 1980s. "I expect finally the tax reform will be passed and signed into law so in January we will see some modest gains in the dollar versus emerging Asian currencies," said Gao Qi, Asia FX strategist at Scotiabank. The dollar index, which measures the greenback against a basket of six major currencies, rose about 0.31 percent to 93.174 at 0644 GMT. The Singapore dollar and the Thai baht weakened 0.19 percent and 0.12 percent, respectively The Taiwan dollar traded flat ahead of Tuesday's consumer price inflation numbers, expected to be 0.26 percent. Malaysia's ringgit firmed 0.36 percent on Monday, the most in the region, as November factory data showed the strongest expansion in the manufacturing sector since April 2014, thanks to solid growth in output and new orders on improved domestic and overseas demand. The yuan firmed 0.08 percent even though the People's Bank of China (PBOC) set a weaker fixing rate for the second consecutive day. The currency eased against the greenback on Friday and ended the week lower. The Indian rupee firmed 0.12 percent. The Reserve Bank of India is due to hold monetary policy committee meeting on Wednesday. Data issued on Friday showed India's foreign exchange reserves crossed the $400 billion mark on Nov. 24, the highest since Sept. 22. PHILIPPINE PESO The peso continued its decline from Friday and weakened more than 0.5 percent,the most among its Asian peers, as the Philippines equity index slipped to its lowest since mid-September. Philippine shares fell more than 1 percent to a near 12-week low as the passage of a tax bill in the U.S. Senate aided foreign outflows. INDONESIAN RUPIAH Indonesia's rupiah traded flat as data for November showed inflation reached its lowest since December 2016 at 3.30 percent year on year, lower than expectations of 3.40 percent from a Reuters poll of analysts. Core inflation for the same period also came in lower than expected, at 3.05 percent, against the expected 3.10 percent, lowering the potential for a rate hike. "The key risk going forward is oil price, depending on how the government will manage administered price changes next year," DBS Group Research economist Gundy Cahyadi wrote in a note issued shortly before the data was released. "Otherwise, core inflation staying soft at 3.1 percent suggests that demand-pull inflationary pressures remain contained for now." S. KOREAN WON The Korean won was the region's second-biggest loser , weakening 0.21 percent against the greenback. "The Korean won appreciated a lot in the past sessions and it also typically moves at a faster pace compared to regional currencies. It appreciates more, it depreciates more," added Scotiabank's Qi. The Bank of Korea hiked the benchmark rate on Nov. 30, as was widely expected, for the first time in six years. The following table shows rates for Asian currencies against the dollar at 0649 GMT. CURRENCIES VS U.S. DOLLAR: CHANGE AS AT 0649 GMT Change on the day at 0649 GMT Currency Latest Previous Pct bid day Move Japan yen 112.88 112.1 -0.69 Sing dlr 1.3491 1.3465 -0.19 Taiwan dlr 30.030 30.028 -0.01 Korean won 1089 1086.4 -0.21 Baht 32.640 32.6 -0.12 Peso 50.630 50.37 -0.51 Rupiah 13523 13524 +0.01 Rupee 64.39 64.46 +0.12 Ringgit 4.073 4.0875 +0.36 Yuan 6.615 6.6206 +0.08 Change so far in 2017 Currency Latest End 2016 Pct bid Move Japan yen 112.88 117.07 +3.71 Sing dlr 1.3491 1.4490 +7.40 Taiwan dlr 30.030 32.279 +7.49 Korean won 1089 1207.70 +10.93 Baht 32.640 35.80 +9.68 Peso 50.630 49.72 -1.80 Rupiah 13523 13470 -0.39 Rupee 64.385 67.92 +5.49 Ringgit 4.073 4.4845 +10.10 Yuan 6.615 6.9467 +5.01 (Reporting by Aaron Saldanha in Bengaluru)
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