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Indonesian Rupiah Drops While Oil Prices Rise

September 6, 2013 at 10:11 by Vladimir Vyun

50,000 and 100,000 Indonesian Rupiah billsThe Indonesian rupiah was soft today as rising oil prices made investors worried that the nation’s trade balance deficit may worsen. Such worries were obviously negative for attractiveness of Indonesian assets.

Prices for crude oil were rising on the threat of a war in Syria. This is not good for Indonesia as the country is a net importer of oil. As a result, the rupiah was the worst performer among currencies of emerging markets, falling as much as 2.3 percent since the end of the last month.

USD/IDR traded at 11,176 as of 10:10 GMT today.

If you have any questions, comments, or opinions regarding the Indonesian Rupiah, feel free to post them using the commentary form below.

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