Rupiah Falls to Lowest Since April 2009 as Companies Buy Dollars
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Indonesia’s rupiah weakened to the lowest level since April 2009 on speculation local companies increased dollar purchases after the currency had its best week since November 2012. Government bonds fell.
The rupiah advanced 0.5 percent last week as the Federal Reserve refrained from reducing the stimulus that has spurred demand for emerging-market assets. Indonesia’s trade shortfall surged to a record $2.3 billion in July, weighing on the current account that remained in deficit for a seventh quarter through June. Official August trade data will be released on Oct. 1.