Asian currencies fall, Indonesian rupiah hovers near 4-year lows

Quick Summary:

THE Indonesian rupiah hovered near four-year lows on Wednesday, while other Asian currencies traded in the red as the Federal Reserve's higher-for-longer monetary policy stance pressured regional assets.

Hawkish comments from Fed officials on Tuesday knocked down riskier Asian assets.

Its central bank flagged the possibility of downward pressure mounting again on the won, but vowed to step up monitoring of risk factors and stabilise markets as required.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndonesiaJapanSouth KoreaTaiwan

Topics: Asean Forex Federal Reserve Rupiah Monetary policy Currencies /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-26 @ 16:35:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 456 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21392829

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