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Rupiah slump sends Indonesian borrowers back home

Rising hedging costs is also denting the appeal of overseas financing

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CURRENCY ISSUES: Not all Indonesian borrowers with US debt need - or are able - to refinance US dollar debt with local currency debt. Companies with overseas revenues are likely to retain their US dollar debt.

Singapore

THE double whammy of a slumping currency and rising hedging costs is denting the appeal of overseas financing for Indonesian borrowers.

Telecom operator Indosat turned to the local rupiah market on Thursday to refinance its US dollar debt. Its move comes as Indonesia is