Indonesian Rupiah Falls Most in Four Weeks as Fed Meeting Nears
This article is for subscribers only.
Indonesia’s rupiah fell the most in four weeks to lead losses in Asia on concern the nation will be vulnerable to outflows if the Federal Reserve raises borrowing costs next week.
There’s a 78 percent probability that U.S. interest rates will be increased at the Federal Open Market Committee meeting on Dec. 15-16, futures contracts show. Indonesia’s persistent current-account deficit, sluggish economy and a slump in prices for commodities like coal and palm oil have made the rupiah the worst-performing currency in Asia this year after Malaysia’s ringgit.