The Indian rupee hit a fresh record low against the US dollar and other emerging Asian currencies fell on Thursday as minutes of the Federal Reserve's last meeting indicated the US central bank could cut its stimulus as early as September.
The Indian rupee weakened past 65.00 per dollar, breaking its previous low of 64.5450 reached on Wednesday.
Indonesia's rupiah fell to another four-year low on corporate dollar demand and capital outflows.
The Malaysian ringgit slid to its weakest in more than three years after the country had weaker-than-expected growth and a smaller current account surplus in the second quarter.
Thailand's baht also hit a three-year low on offshore selling, while the Philippine peso touched a two-month low on catch-up plays.
Regional units found some relief as a survey of Chinese manufacturing sector activity in August produced the highest number in four months, adding to hopes of stabilisation in the world's No.2 economy.
Still, emerging Asian currencies stayed under pressure from fears over capital outflows amid expectations that the Fed may scale back its bond-buying programme soon.
"The rationale for this regional currency weakness stems from a less than robust Asian economic recovery burdening the regional current accounts, little evidence of strong net capital inflows on the portfolio front, and the prevailing developed market vs. emerging market dichotomy," OCBC Bank said a client note.
Emerging markets from Thailand to Turkey have come under pressure in recent weeks due to anticipation that the Fed will reduce its quantitative easing. Its stimulus generated a wave of cheap money moving into emerging market currencies, equities and bonds.
The Fed minutes released on Wednesday showed policymakers had different opinions as to when the central bank should start winding down its bond purchases.
However, the minutes did not materially change the market's expectation that the Fed could start tapering its $85 billion bond-buying