SINGAPORE: The Indonesian rupiah hit a four-year low on Wednesday and looked set to break the psychologically important 11,000 per dollar support line as emerging markets suffered further outflows on fears that the Federal Reserve will soon begin to pare back stimulus.
Spot rupiah fell as much as 0.9% to 10,780 per dollar, its weakest since April 2009, and forwards markets pointed to further declines for what is already the second-worst performing emerging market currency in Asia.
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