The Indonesian rupiah fell along with most other Asian currencies against the US dollar today amid bets on an interest rate hike from the Federal Reserve in the near future.
Prospects for an interest rate hike drove the dollar up, weakening other currencies in the meantime. Currently, CME FedWatch shows basically a 100% chance of a hike in June. That means less cheap money, making it less appealing for investors to risk buying assets of emerging markets.
USD/IDR rose 0.59% to 13,975 as of 9:38 GMT today.
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