Economics
Rupiah Sinks to Weakest Level Since 1998 on China Trade Concern
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The rupiah dropped to its weakest level since 1998 on concern slowing economic growth in China may worsen the nation’s trade balance.
The currency fell as much as 0.4 percent to 13,030 a dollar Thursday, the weakest level since August 1998, prices from local banks compiled by Bloomberg show. It closed at 12,989. One-month non-deliverable forwards were little changed at 13,139 a dollar, data compiled by Bloomberg show.