SINGAPORE -- Asian currencies lost ground on Friday against a firmer dollar amid global downturn fears, but suspected official intervention underpinned the Philippine, Indonesian, South Korean and Malaysian currencies.

The Philippine peso recovered from its weakest levels in nearly a year at 46.94 per dollar after the central bank was also seen selling dollars in the market.

"They (the central bank) were in earlier at 46.90, but not aggressive," said a trader in Manila.

The Indonesian rupiah recovered to around 9,300 per dollar after hitting as low as 9,365 per dollar -- its lowest level since May 27, as traders cited central bank dollar dollar-selling intervention by the central bank.

"They (the central bank) were at various levels, from 9,340," said a trader in Jakarta.

"The currency is being pressured because the emerging market and majors are under pressure -- the dollar is very strong," said a second trader in Jakarta.

The dollar held firm against the euro after hitting a 10-month high in late US trade.

Indonesia's central bank deputy governor Budi Mulya said on Friday the monetary authority would act to avoid excessive rupiah volatility and blamed the current decline in the currency on the dollar's strength.

In Malaysia, the authorities also were spotted in the market after the ringgit currency also hit a year low at 3.46 per dollar.

The South Korean won bounced sharply higher from as low as 1,142.7 against the dollar, as dealers reported dollar sales by South Korean authorities, the third consecutive day of official intervention.