Indonesian Rupiah Drops After Failed Debt Auction

The Indonesian rupiah dropped today after the nation’s debt auction failed and as investors were selling Indonesian assets.
Indonesia sold $190 million of bonds yesterday, trailing the $450 million target. It is not a good sign for the country’s economy. The rupiah was also under pressure from anticipation of stimulus tampering by the US Federal Reserve.
USD/IDR went up from 11,745 to 11,765 as of 11:02 GMT today.

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