Bets of more rate cuts dent Indonesia's rupiah

The rupiah, however, lost almost 0.4% after Bank Indonesia cut rates by a quarter point and signalled more easing to come as it struggles to revive an economy facing its first contraction in two decades in the second quarter.

SINGAPORE: Indonesia's rupiah weakened on Friday, as the prospect of more interest rate cuts this year reduced the allure of one of Asia's big emerging market carry trades.

With global markets unnerved by signs of renewed spikes in coronavirus cases in a number of countries, currencies across the region were largely shackled against the U.S. dollar, with the South Korean won dipping 0.26%.