Indonesian Rupiah Veers Toward Asian Crisis Lows on Rate Outlook
- Barclays, Maybank see currency testing 16,800 per dollar
- Central bank to look for room to cut interest rates again
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The Indonesian rupiah is at risk of falling to levels last seen during the Asian Financial Crisis as the central bank’s dovish shift signals growing ease with a weaker currency.
Barclays Plc sees the rupiah testing the 16,800-per-dollar mark, the lowest since June 1998, by the end of the year on expectations Donald Trump’s trade policies will boost the greenback. Malayan Banking Bhd. predicts a faster drop, as it forecast the currency to hit the milestone this quarter.