New Indonesian law boosting laggard currency

Rising value: A shopkeeper counts Indonesian rupiah banknotes in Jakarta. The rupiah, Asia’s worst-performing currency this quarter, could see a revival in its fortunes from the recent overhaul of the nation’s investment law. — Bloomberg

JAKARTA: The Indonesian rupiah has languished at the bottom of Asian currency rankings for most of the year but a recent overhaul of the nation’s investment law may help revive its fortunes.

The rupiah rose about 1% against the dollar last week after Indonesia approved its first omnibus law aimed at cutting red tape to boost investments and create jobs.