6935
Indonesia Rupiah Sinks
World Economy

Indonesia Rupiah Sinks

The Indonesian rupiah Monday sank to its lowest level against the dollar since the Asian financial crisis 16 years ago, as emerging markets are hit hard by signs of recovery in the US. The unit was down 1.8% in early afternoon trade, at 12,690 to the dollar, its lowest level since August 1998, around the time Southeast Asia’s biggest economy was devastated by serious financial turmoil, AFP said. In earlier trade, it touched 12,699 to the dollar. Like other emerging market currencies, the rupiah has been hit by signs of recovery in the American economy that has led to expectations the Federal Reserve will raise interest rates next year.

Short URL : http://goo.gl/iGb0FK

You can also read ...

The Norges Bank, Fed, BoE, ECB and SNB collectively set borrowing costs for more than a third of the world economy.
Wall Street economists are telling investors to brace for the...
India’s economy has the potential to grow at 8% over the next 20 years.
A new UN report flags subdued private investment in India as a...
Southeast Asia Internet Economy to Reach $50b
Digital businesses can’t afford to ignore Southeast Asia,...
Afghan Reforms Showing Progress
The International Monetary Fund has praised the Afghan...
Gas flares burning at the North Rumaila natural gas field, north of the southern Iraqi port of Basra.
The World Bank will stop financing oil and gas exploration and...
That decision to leave the EU prompted a sharp 15% fall in the pound, which raised the cost of imported goods, notably food and oil.
Consumer price inflation hit a near six-year high of 3.1% in...
Petrol prices are set to increase by about 80%.
Saudi Arabia plans to raise domestic petrol and jet fuel...
Russia: Sanctions Worst Form of Protectionism
Russian economy minister has urged the World Trade...

Trending

Googleplus