Indonesia's rupiah drops to four-year low after weak bond sale

|By:, SA News Editor

Amid concern about the effects of Fed tapering, if and when it happens, Indonesia's rupiah has fallen to its lowest level since March 2009 after the government sold $190M of dollar-denominated bonds, well short of the goal of $450M.

The USD-IDR is +0.4% at 11790 rupiahs.

"We expect to see the rupiah weakening, keeping in view the Fed-tapering risk," says currency strategist Andy Ji.

The IDX Composite is -1%.

ETFs: IDX, EIDO, CEW, IDXJ, JEM