Indonesia’s Fundamentals Endanger Rupiah
The Indonesian rupiah was flat today, but remains in danger as the rising trade balance deficit may lead to growth of current account deficit. Such prospects drove investors away from the nation’s assets.
The trade shortfall widened to $1.5 billion in October, reaching the highest level since at least 2008. The central bank predicted that the current-account gap will increase to the record 2.3 percent of gross domestic product. According the exchange data, global funds sold $42 million more Indonesian stocks than they bought this month.
USD/IDR traded at 9,655.0000 as of 13:54 GMT today.
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Earlier News About the Indonesian Rupiah:
- Indonesian Rupiah Flat. Can It Rise? (2012-11-26)
- Indonesian Rupiah Declines While Trade Deficit Expands (2012-08-01)
- 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)