Asian currencies weaken on China worries, Indonesian rupiah top loser
newscatcher
2023-08-14 15:41
Asian currencies weaken on China worries, Indonesian rupiah top loser
BANGKOK : Emerging Asian currencies fell on Monday, with the Indonesian rupiah declining the most, amid concerns about China's faltering economic growth ahead of key data, which could bolster hopes for more direct policy stimulus from Beijing. The rupiah, the best performing Asian currency so far this year, weakened as much as 0.8% against the greenback to hit its lowest level since March. Indonesia's central bank intervened in the spot foreign exchange and domestic non-deliverable forward markets to prevent high currency volatility, according to an official.

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