Rupiah at lowest point in 20 years against US$

The import tax will be raised to up to 10 percent on 1,147 mostly consumer goods, from an existing 2.5 percent to 7.5 percent, effective next week, Finance Minister Sri Mulyani Indrawat(pic)i told a news briefing.

SYDNEY: Indonesia’s rupiah weakened past 15,000 per dollar for the first time in 20 years as sentiment toward emerging-nation assets soured and oil prices jumped.

The currency has tumbled almost 10% this year as rising US interest rates have boosted the dollar and Indonesia’s current-account deficit has left the economy exposed to the financial turmoil that afflicted Turkey and Argentina.