Rupiah's Drop to Four-Year Low Prompts Bank Indonesia Support [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
Most Read from Bloomberg Modi Vows to Retain Power Even as Party Loses India Majority Modi's Magic Is Fading Fast. Who's Next for India? Short Sellers in Danger of Extinction After Crushing Stock Gains BlackRock, Citadel Back Texas Stock Exchange in Challenge to NYSE Bonds Rally as Traders Reload Fed Bets After Data: Markets Wrap The rupiah fell as much as 0.5% to 16,293 per dollar on Wednesday, its weakest since April 2020. That brings one of Asia's highest yielding currencies below the level which triggered an unexpected interest-rate hike by Bank Indonesia in April to stem the rout. Central bank Governor Perry Warjiyo reiterated on Wednesday that it will continue efforts to keep the rupiah stable and stem foreign outflows amid market volatility. Seasonal dividends and Hajj pilgrimage outflows, coupled with a narrowing trade surplus, have weighed on the currency. The rupiah is the worst performing emerging-Asian currency this quarter after the Philippine peso. “Ling
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