Morgan Stanley Investment Management, a leading global investment firm, said it now considers Indonesia’s rupiah and Malaysia ringgit as the most attractive emerging-market currencies. Both currencies have been the worst-performing Asian currencies against the US dollar this year amid looming tighter monetary policy in the USA, low commodity prices and China’s economic slowdown (as well as a political scandal in Malaysia). The ringgit has depreciated 21 percent, while the rupiah has weakened 16.2 percent against the US dollar since the start of the year. Both currencies are touching 17-year lows.
Update COVID-19 in Indonesia: 563,680 confirmed infections, 17,479 deaths (4 December 2020)
4 December 2020 (closed)
USD/IDR (14,182) +5.00 +0.04%
EUR/IDR (17,221) +45.06 +0.26%
Jakarta Composite Index (5,810.48) -12.46 -0.21%