Battered rupiah likely to face another month of losses

The rupiah has weakened against the dollar in August for 16 consecutive years, the only emerging Asian currency to show such a long-standing trend.

JAKARTA: Indonesia’s rupiah has depreciated more than any other emerging market currency this month. Past performance suggests August will see further losses.

The rupiah has weakened against the dollar in August for 16 consecutive years, the only emerging Asian currency to show such a long-standing trend.

It may have less to do with sentiment or policy though, and more to do with the fact that dividend payments are made to overseas investors from April to July and withdrawn the following month, according to Australia & New Zealand Banking Group Ltd.