Indonesian Rupiah Weakens on Fed Interest Rate Hike Bets

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.

If you have any questions, comments or opinions regarding the Indonesian Rupiah,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *