Indonesian Rupiah Hits Historic Lows as Forex Reserves Plunge
The Indonesian rupiah weakened to an all-time low against the US dollar, reaching 18,210 during Asian trading, as foreign exchange reserves fell sharply.
USDIDR
USD/IDR extended its gains for a fifth consecutive session, trading near 18,200 after hitting a record high of 18,210 in Asian hours. The decline comes as Indonesia's forex reserves plunged, adding to pressure on the rupiah.
The currency's slide marks the weakest level on record, driven by persistent dollar demand and concerns over the country's foreign exchange buffers. Traders are watching for potential central bank intervention to stem the losses.
Source: FXStreet Forex News