Friday, November 20, 2009

Rupiah, Ringgit Lead Slump in Asian Currencies on Intervention

(Bloomberg) -- Indonesia’s rupiah declined the most since February, leading a slump in Asian currencies, on speculation regional policy makers will impose restrictions on capital flows to restrain currency gains. The rupiah fell for a fourth day, the longest losing streak since April, after the central bank’s Senior Deputy Governor Darmin Nasution said the bank is “seriously” studying the option of limiting foreign inflows into its short-term bills. Taiwan central bank Governor Perng Fai-nan today said excessive currency moves hurt the economy and it will intervene if irregular factors cause volatility.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=au3xgWPQXIbY

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