Indonesian Rupiah Weakens on China, Rebounds
The Indonesian rupiah fell today, before rebounding, as worries about the economic slowdown in China made investors reluctant to buy risky currencies. The currency traded at its opening level after the earlier drop.
Song Guoqing, an adviser in China’s central bank, said last week that growth may slow to 7.4 percent in the third quarter of 2012 from 7.6 percent in the previous quarter. China is the second-biggest economy in the world and its performance has a huge impact on other countries. Moreover, the Asian country is the largest importer of Indonesian goods.
USD/IDR traded at its opening of 9,450.0000 as of 12:23 GMT today after the earlier advance to 9,493.0000.
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Earlier News About the Indonesian Rupiah:
- Rupiah Falls as Moody's Downgrades Spain, Recovers (2012-06-14)
- Indonesia Rupiah Advances as Intervention Anticipated (2012-05-11)
- Indonesian Rupiah Rises with Other Asian Currencies on Positive Sentiment (2011-12-16)
- Indonesian Rupiah Falls as Central Bank Cuts Interest Rates (2011-11-10)
- Indonesia Intervenes to Support Rupiah, India & South Korea Follow (2011-09-14)