Indonesian rupiah set for longest rally in eight years as Prabowo sought to allay debt fears

JAKARTA (Bloomberg): Indonesia’s moves to ease concern over the nation’s fiscal outlook and growing bets for more Federal Reserve interest-rate cuts sent the rupiah on its best rally in almost eight years.

The rupiah rose as much as 0.4% to 16,135 per dollar on Friday (July 12), set for an eighth day of gains, which would be the longest rally since September 2016.