Rupiah Surges Most Since May 2012, Stocks Jump After Fed Meeting
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Indonesia’s rupiah surged the most in 15 months, stocks jumped and government bonds gained after the Federal Reserve unexpectedly refrained from reducing stimulus that has spurred inflows to emerging markets.
The currency rose 1.7 percent to 11,283 per dollar as of 4:08 p.m. in Jakarta, the biggest advance since May 30, 2012, prices from local banks show. In the offshore market, the one-month non-deliverable forwards gained 2.8 percent to 10,870, the most since December 2008. The contracts were 3.5 percent stronger than the spot rate after trading 2.7 percent weaker on average in the past month.