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Indonesian Rupiah Caps Worst Year Since 2000 on Taper, Deficit

Indonesia’s rupiah completed its biggest annual loss since 2000 due to a record current-account deficit and as the Federal Reserve prepares to pare stimulus that’s boosted inflows to emerging markets.

Global funds sold $1.9 billion more Indonesian stocks than they bought this year through Dec. 27, exchange data show, contributing to a 1 percent drop in the Jakarta Composite Index, its first decline in five years. The Fed said it plans to trim its monthly debt purchases to $75 billion from $85 billion starting next month as the labor market improves. The rupiah is Asia’s worst-performing currency this year, while sovereign bonds posted the region’s biggest losses.