Worries About Europe Ease, Indonesian Rupiah Gains
The Indonesian rupiah strengthened today as concerns about the European debt crisis eased, increasing appeal of riskier currencies.
Bank Indonesia will meet on June 9 to discuss its key interest rate. The bank increased the rate by 25 basis points to 6.75 percent in February and was keeping it unchanged ever since. The Central Bureau of Statistics reported last week that the Indonesian inflation decreased in May for a fourth month, falling below 6 percent for the first time since October.
USD/IDR fell to 8,505.00 from from 8,535 as of 12:24 GMT today.
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Earlier News About the Indonesian Rupiah:
- Indonesian Rupiah Gains on Positive Growth Outlook (2011-05-10)
- Indonesian Rupiah Rises on Strong GDP Growth (2011-02-08)
- Bank Indonesia Raises Borrowing Costs (2008-07-03)