The Indonesian rupiah rallied to the highest level in about five months today as the market sentiment was positive and helpful to currencies of emerging markets.
Indonesian Rupiah IDR
Central Bank: Bank of Indonesia
Public Debt to GDP Ratio, 2015: 27.7%
Trade Balance, 2015: $14.1 bln.
Inflation, 2015: 6.7%
High-yielding interest rates
Factors of Weakness
High-risk emerging market
The Indonesian rupiah is the official currency of Indonesia. Domestically, it is nicknamed “perak” (“silver” in Indonesian). The currency was first introduced in 1946. The government has long-term plans to redenominate the rupiah because of huge devaluation of the currency.
Indonesian Rupiah News Archive
The Indonesian rupiah rallied against the US dollar strongly, rising more than 1 percent today. Yet analysts are still worried that the future looks bleak for the currency.
The Indonesian rupiah advanced today after the country’s Constitutional Court ruled in favor of Joko Widodo, rejecting challenges against the outcome of the July presidential elections.
The Indonesian rupiah climbed today, touching the highest level in two months, as it was announced that Joko Widodo is the victor in the nation’s presidential elections. This gives hope that political uncertainty will not be driving investors away from nation’s assets any longer.
The Indonesian rupiah dropped today as the result of this month’s presidential election was contested by one of the candidates, who said that the voting was undemocratic and unfair.
The Indonesian rupiah fell today as the nation’s central bank signaled that it encourages weakness of the currency as it should help local exporters and improve the trade balance.
Asian currencies declined today as the conflict in Iraq kept driving prices for crude oil higher, endangering economies of emerging markets. The Indian rupee and the Indonesian rupiah led the decline.
The Indonesian rupiah dropped today on concerns that rising oil prices will hurt the trade balance and on speculations that importers were hoarding dollar.
The Indonesian rupiah dropped today on speculations that the growing trade balance deficit will spur overseas investors to pull their money out of the nation’s economy, diminishing the appeal of Indonesia’s assets.