The Indonesian rupiah has reached a four-year low against the US dollar, prompting intervention by Indonesia's central bank. This significant depreciation occurred as the nation reopened after a holiday, with the currency surpassing 16,000 per US dollar for the first time since 2020. Factors contributing to the rupiah's decline include inflation following Ramadan and the aftermath of recent elections. The broader context includes a general weakening of Asian currencies against the dollar, with similar trends observed in the Indian rupee and Korean won. The situation is influenced by the 'higher for longer' policy stance and the global economic pressures attributed to 'Mr. Powell'.
BREAKING: 🇮🇩 Indonesia's rupiah hits four-year low against the US Dollar
⚠️ ANALYSIS-INDONESIA'S PLUNGING RUPIAH TWISTS THE POLICY PLOT Full Story → https://t.co/ecUmjvREQy https://t.co/Q5Lvb7f5kt
The dollar bulldozed its way through Asian currencies today. Think it's hard for 🎌 to intervene when dollar strength is the driver. But you never know. Rupee, rupiah, won, yuan also down🔻 https://t.co/sv2zNveYY7
*INDIAN RUPEE WEAKENS TO RECORD LOW AGAINST DOLLAR *KOREAN WON WEAKENS TO 1,400 PER DOLLAR, FIRST TIME SINCE 2022 *RUPIAH WEAKENS PAST 16,000 PER USD, FIRST TIME SINCE 2020 *”higher for longer” comes with the global wrecking ball Mr. Powell.
Rupiah hits 4-year low as Indonesia reopens after holiday Ramadan inflation, election aftermath add to gloom on currency: https://t.co/GWgrZyqle0 https://t.co/TjcWOKic89
Indonesia's central bank stepped in to support the rupiah after the currency weakened past 16,000 per US dollar for the first time in four years https://t.co/HyMnKnxmIz
BREAKING: Rupiah hits 4-year low as Indonesia reopens after holiday. https://t.co/bE0YB2PeaT