Rupiah Forwards Fall to Lowest Since April 2009 on Import Quotas
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Rupiah forwards fell to a four-year low on concern government measures to tackle inflation will weigh on the trade deficit, which reached a record in July.
One-month non-deliverable forwards dropped 1.9 percent to 11,850 per dollar as of 4:40 p.m. in Jakarta, trading 6.2 percent weaker than the spot rate, which was unchanged at 11,125, prices from local banks compiled by Bloomberg show. That’s the biggest gap since Aug. 27, when it touched 6.6 percent, the widest since September 2011. The contracts reached 11,888 earlier, the lowest level since April 2009.