Indonesian rupiah hits 17-year low after central bank inflation forecasts
Add BT as a preferred source
[SINGAPORE] Indonesia's rupiah hit a near 17-year low on Friday after the central bank said inflation is expected to ease in February, improving chances for further interest rate cuts, after a surprise reduction earlier this month.
Bank Indonesia Governor Agus Martowardojo said Indonesia's annual inflation rate is expected to ease to below 6.5 per cent in February from 6.96 per cent in January.
The rupiah fell as much as 0.8 per cent to 12,935 per dollar, its weakest since August 1998. The rupiah has lost 4.3 per cent against the dollar so far this year, becoming the worst performing emerging Asian currency so far this year.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Trickier across borders: Why commercial disputes are getting more complex
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
When every phone becomes a satellite phone, what happens to Asia’s telcos?
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
