Economy / Indonesia
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Warning Signs For Rupiah And CDS
September 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Indonesia's financial markets are once again looking decidedly dicey. The rupiah on September 12 touched an eight-month low of IDR9,465/US$, after crashing through the IDR9,450/US$ support level which we have been highlighting lately. While it managed to carom back to IDR9,425/US$ by the close of play, it remains vulnerable to further downside. However, Indonesian policymakers sounded surprisingly unconcerned about the rupiah's sharp descent lately.