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The rupee is no longer Asia’s worst currency

Posted on 18 September 2013

New figures from Nomura Holdings show the Indonesian rupiah to be Asia’s worst performing currency. The rupiah has weakened almost 14% since the start of June, compared with a 10% slide in the Indian rupee.
The rupiah’s fall is a result of Indonesia’s record current-account deficit. The Bank of Indonesia has embarked on an aggressive tightening policy and has also eaten into the country’s foreign-currency reserves in a bid to protect the rupiah………………………………………..Full Article: Source


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