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Indonesia fin min says rupiah won't move much from 14,000 per dollar for rest of the year

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Indonesia's finance minister on Tuesday said he expected the rupiah to hover around 14,000 per dollar for the rest of 2015. "We see (the rupiah) is now above 14,000 and maybe it wouldn't move much from there," Minister Bambang Brodjonegoro told parliament.

[JAKARTA] Indonesia's finance minister on Tuesday said he expected the rupiah to hover around 14,000 per dollar for the rest of 2015. "We see (the rupiah) is now above 14,000 and maybe it wouldn't move much from there," Minister Bambang Brodjonegoro told parliament.

The rupiah touched 14,405 per dollar earlier on Tuesday, its weakest since July 1998.

It has lost 14 per cent of its value so far this year as Southeast Asia's largest economy slowed and the US dollar climbed on expectations for the Federal Reserve to raise interest rates later this year, pressuring emerging market currencies.

REUTERS

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