The currency has slumped more than 3% this year, making it one of the worst performers in emerging markets. — Reuters
JAKARTA: The Indonesian rupiah declined to its weakest level since the Asian financial crisis as fears mounted over the nation’s fiscal trajectory, putting pressure on the central bank to step up efforts to defend the currency.
The rupiah fell 0.5% to 16,641 against the dollar yesterday, its weakest since June 1998. The currency has slumped more than 3% this year, making it one of the worst performers in emerging markets.
