Rupiah Tops Real as Japan Investors’ Currency-Tied Note Favorite
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Japanese household investors, who collectively poured more than $36 billion into uridashi bonds last year, are switching to the Indonesian rupiah from the Brazilian real for their currency-tied bets.
The real, the favorite among such investors for nine months last year, was overtaken by the rupiah in December as the top currency for uridashi notes with returns linked to foreign exchange rates, Bloomberg-compiled data show. Issuance of real-tied bonds totaled $68.9 million last month, compared with $84 million of rupiah-linked securities, the data show.