Indonesian Rupiah Declines While Trade Deficit Expands
The Indonesian rupiah fell today after the report showed that exports fell, leading to a bigger-than-expected trade balance deficit and declining attractiveness of the currency.
Indonesia’s trade deficit was at $1.3 billion in June, being almost double the predicted amount of $530 million. Exports fell as much as 16.4 percent from a year ago, demonstrating the biggest drop since September 2009. Inflation picked up to 4.56 percent in July, reaching the fastest expansion in 10 months.
USD/IDR rose 0.3 percent to 9,466 today.
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Earlier News About the Indonesian Rupiah:
- Indonesian Rupiah Weakens on China, Rebounds (2012-07-23)
- 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)