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Indonesian Rupiah Struggles to Keep Gains

September 20, 2013 at 13:40 by Vladimir Vyun

50,000 and 100,000 Indonesian Rupiah billsThe Indonesian rupiah was another Asian currency that profited from the Federal Reserve announcement, but is moving down right now on speculations that the rally was overdone.

The Fed shocked the Forex market as the US central bank decided to keep quantitative easing intact. The riskier currencies (including the rupiah and the ringgit) soared, while safer ones experienced sell-off. Now, though, the rally stalled on speculations that the currencies have rallied too far too fast and as economic conditions in Asia did not support such big gains.

USD/IDR went up as much as 1.79 percent to 11,041 as of 13:38 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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