WSJ: India, Indonesia Currencies Continue to Fall
The Wall Street Journal: India, Indonesia Currencies Continue to Fall
September 4, 2013
Indian and Indonesian currencies were battered Wednesday, with both the rupee and the rupiah continuing a recent downtrend, reflecting investors’ concerns over growing trade imbalances and slowing emerging-market economies.
India’s currency slumped to within a whisker of a record low before the central bank—according to traders—aggressively intervened, while Indonesia’s currency fell to its lowest level in more than four years.