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NEWS UPDATES Asean Affairs   24 July 2013  

Rupiah suffers deepest drop in 13 months

The rupiah suffered its deepest plunge in the last 13 months in onshore trading.

Bloomberg data shows that the rupiah slid 1.6 percent and was being traded at Rp 10,225 per US dollar as of 10:26 a.m. on Tuesday. This is the weakest level since Rp 10,258 per US dollar was recorded on July 14, 2009.

One-month non-deliverable forwards were 0.9 percent weaker than the spot rate at 10,320. That gap exceeded 5 percent last month for the first time since 2011.

The central bank has allowed the rupiah to gradually depreciate, especially this month, deputy governor Perry Warjiyo said on July 12.

The nation recorded trade deficits in seven out of the past eight months, while its current account has been in shortfall for the six quarters through March, official data shows.

The rupiah has weakened 2.9 percent in July and 5.8 percent this year, the worst performance among Asia’s 11 most-traded currencies after Japan’s yen and India’s rupee.

The 10,000 per dollar level is in line with economic fundamentals, Bank Indonesia Governor Agus Martowardojo said last week.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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