Indonesian rupiah falls to a four-year low due to dollar rebound and foreign bond sales amid concerns over incoming administration's spending pledges.
The Indonesian rupiah fell to a four-year low amid a broad dollar rebound and as foreign funds continued to sell local bonds on concerns over the incoming administration's pledges to boost spending. The currency dropped 0.5% against the US dollar to 15,963, its lowest since April 2020. Global funds withdrew $1.7bn from Indonesian bonds in the first quarter, the most since the three-months through September 2022, due to worries over the fiscal impact of the new administration's plans.
April 01, 2024
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