Indonesia rupiah up 1% to near 4-month high

[SINGAPORE] Indonesia's rupiah rose one per cent on Thursday to hit a near four-month high after Federal Reserve chair Janet Yellen highlighted growing risks facing the US economy.

The rupiah strengthened to 13,325 per dollar, its strongest since Oct 15. That compared with Wednesday's close of 13,460.

Most Indonesian government bond prices rose as investors sought one of the highest yields in Asia.

Ms Yellen told US lawmakers on Wednesday the Fed is unlikely to reverse its plan to raise interest rates further this year, but said tighter credit markets, volatile financial markets, and uncertainty over Chinese economic growth have raised risks for the US economy.

REUTERS