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Indonesian Rupiah Gains a Second Day on Intervention Speculation

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Indonesia’s rupiah rose for a second day, rising from near the weakest level in 16 years, on speculation the central bank intervened to curb losses in the currency.

Overseas investors have sold a net 13.03 trillion rupiah ($1.03 billion) of local-currency sovereign bonds and $337 million of stocks this month as they prepare for higher U.S. interest rates next year. The Federal Open Market Committee ends a two-day meeting today at which the path of increases in borrowing costs will be discussed.