Indonesia's rupiah currency nears pandemic-era low, prompting pressure on Bank Indonesia to raise interest rates.
Indonesia's currency, the rupiah, is approaching a pandemic-era low, prompting pressure on Bank Indonesia to raise interest rates and support the struggling currency. The rupiah has weakened to its lowest since April 2020 due to factors including Federal Reserve rate cut expectations and Middle East tensions. Analysts predict the rupiah could reach 17,000 against the US dollar by September. As dollar strength persists, relying on non-rate tools may prove insufficient.
April 21, 2024
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