Rupiah Reaches Three-Year Low as Foreigners Sell Stocks, Bonds
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Indonesia’s rupiah touched a three-year low as foreign funds pull money from stocks and bonds amid forecasts for the nation’s current-account deficit to widen. Equities fell to an 11-week low.
Overseas investors sold $51 million more local stocks than they bought this month and reduced their government debt holdings by 430 billion rupiah ($44 million), exchange and finance ministry data show. The shortfall in the current account may be 2.3 percent of gross domestic product this quarter, which would be the most since Bloomberg began compiling the data in 1997, the central bank said on Dec. 11.