Indonesia's Rupiah Strengthens as MSCI Weighs Market Reclassification
Photo: TokenPost
The rupiah strengthened against the U.S. dollar over five days as MSCI weighed a proposal to change Indonesia’s market classification amid a sharp selloff in Indonesian shares. Bank Indonesia (BI) set its official reference rate at 17,986 rupiah per dollar on Oct. 21, down from 18,052 on Oct. 16. The rupiah remained weaker than its Oct. 15 level, when the reference rate stood at 17,948 per dollar. The Jakarta Composite opened about 8% lower on Oct. 16, triggering a trading halt , and fell 11.57% that day; the index then dropped about 3.6% on Oct. 19.
Source: TokenPost
