Rupiah Poised for Record Low on Policy Risk, Top Forecaster Says

The Indonesian rupiah is at risk of falling to a record low as lingering concerns over the central bank’s independence sap investor confidence, according to the currency’s top forecaster last quarter.

The rupiah may weaken to 17,000 per dollar this year, said Jason Tuvey, deputy chief economist for emerging markets at Capital Economics, putting it past the all-time low set in April. The currency closed at 16,575 on Monday.