35 days ago • Posted by Martin Boujol
Goldman Sachs bearish on Indonesian Rupiah
The central bank of Indonesia says the rupiah is heavily undervalued, but GS is convinced that further rising US yields will keep damaging the demand for rupiah as capital flies oversea. The rupiah dropped 4% this year, making it the worst performing emerging Asian currency, second only to the Thai baht. It is now at 14,635 per dollar, its lowest since November.
Source: Yahoo Finance, Bloomberg, Goldman Sachs