JAKARTA :The Indonesian rupiah on Tuesday slid as much as 1.95 per cent on Tuesday to hit 16,150 per U.S. dollar, its weakest level since April 2020, as the market reopened after the Eid al-Fitr holidays.
It led the decline among emerging Asian currencies.
The benchmark stock index dropped around 2.5 per cent on Tuesday.
While Indonesian markets were closed for the holidays, the U.S. dollar had gained after strong U.S. economic data and rising inflation led markets to push out expectations for when the Federal Reserve could start cutting interest rates.
