Rupiah Rises Past 16,000 Per Dollar for First Time Since May

Indonesia’s rupiah strengthened past the key threshold of 16,000 per dollar following a weakening in the greenback and officials’ earlier moves to soothe investor angst over the incoming government’s fiscal policies.

The currency rose 0.6% to 15,933 per dollar Thursday, breaching the psychological level for the first time since May 22. The rupiah was among the worst-performing Asian currencies in the past year as concerns of a wider fiscal deficit rattled investors.