Forex
Indonesian Rupiah Weakens to Two-Month Low Amid Dollar Strength
The Indonesian rupiah has come under pressure from a strong US dollar, causing it to hover near its weakest level since early August.
As of Tuesday, the exchange rate stood at IDR 18,000 per U.S. dollar, with the greenback holding close to a two-month high due to expectations of further tightening by the Federal Reserve.
Elevated energy prices have added to inflation risks in Indonesia, which relies heavily on imports. Bank Indonesia's interventions across various markets have partly limited the rupiah's downside.