Having held out from breaching the Rp 13,000 per US dollar level for days, the domestic currency finally breached the psychological threshold as economic concerns on China and the Ukraine affected investors’ appetite for emerging-market assets.The rupiah on Thursday weakened 0.4 percent to trade at 13,022 per dollar, according to the Jakarta Interbank Spot Dollar Rate (JISDOR). Meanwhile, local currency rates compiled by Bloomberg showed that the currency had touched 13,028, its weakest level since the 1998 Asian financial crisis.Bank Indonesia (BI) Senior Deputy Governor Mirza Adityaswara said that the rupiah’s weakness was driven by external factors that had affected …read more
Source: The Jakarta Post
