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Rupiah slide and ‘Sell Indonesia’ stocks: Jakarta’s counter moves useful but experts flag deeper fiscal concerns
analysis Asia Rupiah slide and ‘Sell Indonesia’ stocks: Jakarta’s counter moves useful but experts flag deeper fiscal concerns Indonesia’s emergency interest rate hike and efforts to support the rupiah may have helped calm markets for now, but economists say investor confidence will not fully return unless the government addresses deeper concerns. Indonesia’s latest moves to steady the rupiah and calm the stock market may have helped arrest the immediate slide, but experts say the bigger...
Asia Steps Up Currency Defense as Korea, Indonesia Vow Action
Rupiah banknotes in a money-counting machine at a currency exchange office in Jakarta. Photographer: Dimas Ardian/Bloomberg
Indonesian rupiah falls to record low against US dollar
Indonesian rupiah falls to record low against US dollar JAKARTA: Indonesia's rupiah hit its weakest level ever against the dollar on Thursday (Jun 4), breaching the psychological 18,000 threshold amid concerns about the country's economy amid surging energy costs. The unit hit 18,028 against the greenback despite recent central bank efforts to provide support.
Indonesia raises rates in surprise move to prop up sinking rupiah
Indonesia raises rates in surprise move to prop up sinking rupiah The rupiah has been under pressure due to a wide range of investor worries, including President Prabowo Subianto's big spending plans and a ballooning fuel subsidy budget following the Iran war. JAKARTA: Indonesia's central bank raised interest rates by 25 basis points on Tuesday (Jun 9) in an unexpected off-cycle rate hike, taking the benchmark rate to 5.50 per cent as it moves to stabilise the rupiah, which has hit a series...
Indonesia central bank, finance minister agree to boost asset yields to aid rupiah
Indonesia central bank, finance minister agree to boost asset yields to aid rupiah JAKARTA, June 6 : Indonesia's central bank chief and finance minister on Saturday agreed to increase yields on Indonesian assets to attract portfolio inflows and support the rupiah, after the currency hit record lows in the past few weeks. Bank Indonesia and the finance ministry "will increase the attractiveness of yields" on Indonesian assets "so that portfolio inflows return" to the country, Governor Perry...
Indonesian central bank says governor briefs foreign investors following surprise rate hike
Indonesian central bank says governor briefs foreign investors following surprise rate hike JAKARTA, June 10 : Indonesia's central bank has briefed investors from Europe, the United States and Asia following its surprise rate hike, senior deputy governor Destry Damayanti told Reuters on Wednesday. On Tuesday, Bank Indonesia raised interest rates by 25 basis points in a rare off-cycle move to 5.50 per cent to try to stabilise the rupiah after the currency hit a series of record lows. Destry...
Is Asia facing a new currency crisis?
Is Asia facing a new currency crisis? A stronger dollar, higher energy costs and market uncertainty are putting pressure on currencies across Asia. The battle over the Strait of Hormuz is triggering a new economic shock in Asia.
100 days into Iran war: How rising costs are hitting consumers and businesses in Southeast Asia
100 days into Iran war: How rising costs are hitting consumers and businesses in Southeast Asia As the war on Iran marks its 100th day on Monday (Jun 8), CNA looks at how the geopolitical crisis is filtering into everyday life across the region. SINGAPORE: More than three months into the war on Iran, the aftershocks from disrupted Middle Eastern energy and shipping routes are being felt far beyond the oil market, from road construction sites in Malaysia to food and beverage operators in...
As Indonesia tightens spending, Prabowo's travel-heavy diplomacy comes under scrutiny
analysis Asia As Indonesia tightens spending, Prabowo's travel-heavy diplomacy comes under scrutiny Critics question whether Indonesia President Prabowo Subianto’s overseas trips are producing measurable economic and political returns at a time when the administration is championing spending cuts and budget efficiency at home. SINGAPORE/JAKARTA: Indonesian President Prabowo Subianto's latest and fourth trip to France in late May has reignited public scrutiny over his travels, particularly...
Asian stocks slide, oil gains as Middle East tensions escalate
Asian stocks slide, oil gains as Middle East tensions escalate The United States launched strikes against Iran after President Donald Trump said Tehran had shot down a US Apache helicopter in the Strait of Hormuz, leaving investors on edge. SINGAPORE: Asian stocks fell on Wednesday (Jun 10) while oil prices surged as escalating tensions in the Middle East unsettled markets, dimming hopes for an end to the months-long war that has pushed commodities higher and stoked inflation worries. The...