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View all search resultsRupiah weakens most in 2 weeks
Indonesiaâs rupiah retreated the most in more than two weeks as data signaling the US economy is improving bolstered demand for US dollars, Bloomberg reported
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I
ndonesia's rupiah retreated the most in more than two weeks as data signaling the US economy is improving bolstered demand for US dollars, Bloomberg reported.
US jobless claims fell to the least in 14 years in 2014 while an index of pending home sales for November rose more than analysts estimated, according to data released Dec. 31. Indonesia's inflation accelerated to 8.4 percent in December, from 6.2 percent the previous month, while exports fell in November by the most in more than two years, data showed on Friday.
'The dollar's gains were partly driven by the November pending home sales data,' said Saktiandi Supaat, head of foreign-exchange research at Malayan Banking Bhd. in Singapore. 'There are concerns that the Federal Reserve may increase interest rates in the first half.'
The rupiah depreciated 1.3 percent, the most since Dec. 15, to 12,543 a dollar in Jakarta, according to prices from local banks compiled by Bloomberg. The currency declined 0.6 percent for the week. Local markets were shut yesterday for the New Year holiday. The Bloomberg Dollar Spot Index, which tracks the greenback against 10 peers, gained 0.4 percent today.
Indonesia's overseas shipments fell 14.6 percent in November from a year earlier in the biggest drop since August 2012. Imports contracted 7.3 percent, resulting in a trade deficit of US$426 million, the largest shortfall in seven months.
The yield on the country's sovereign bonds due March 2024 fell one basis point, or 0.01 percentage point, to 7.81 percent, prices from the Inter Dealer Market Association show. (***)
