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View all search resultsRupiah set to book largest decline since 2012
The rupiah exchange rate is expected to enter its most significant weakening within the last 11 months during the transaction period on Wednesday
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The rupiah exchange rate is expected to enter its most significant weakening within the last 11 months during the transaction period on Wednesday.
Based on Bloomberg's data, the rupiah exchange rate weakened by 0.7 percent to Rp 9,870 per US Dollar at 12:32 p.m. Jakarta time. This is the largest decline since July 12, 2012.
The significant weakening on Wednesday was affected by the massive foreign exchange outflow due to uncertainties regarding the subsidized fuel price policy, Rabobank International Indonesia treasury head, Billie Fuliangsahar, said as quoted by kontan.co.id in Jakarta.
"If Indonesia's foreign exchange reserves fall below the psychologically accepted level of US$100 billion, then the rupiah currency will face more pressure," Billie said.
