SINGAPORE, Nov 28: The Indonesian rupiah hit a psychologically important support at 12,000 per dollar on Thursday, for the first time in almost five years.
The rupiah was quoted at 11,980/12,000 per dollar as of 0310 GMT, 0.8 percent weaker than Wednesday’s close of 11,880.
A Jakarta-based trader said the Indonesian currency was traded at 12,000 per dollar.
It had been stronger than that level since March 2009, according to Thomson Reuters data.
Due to Indonesia’s current account deficit, the rupiah is regarded as the Asian currency most vulnerable to capital outflows once the U.S. Federal Reserve finally starts winding down a stimulus strategy that has fuelled dollar inflows to emerging markets.
(agencies)
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