18.09.2013 - The rupee is no longer Asia’s worst currency
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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