Rupiah Rebounds From Four-Year Low After Central Bank Measures
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Indonesia’s rupiah rebounded from a four-year low after the central bank announced measures to boost foreign-currency supply. Government bonds fell.
The rupiah is still headed for its worst week since 2008 after the current-account deficit widened to a record last quarter. Global funds pulled $516 million from local stocks this week amid speculation the Federal Reserve will soon start tapering stimulus. Bank Indonesia will offer foreign-exchange deposits with tenors of as long as 12 months, compared with a maximum of 30 days currently, Governor Agus Martowardojo said in Jakarta today.