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FX Volatility Constrains Funding for Underleveraged Indonesian Banks

Despite a series of measures introduced by the Indonesian authorities, including six benchmark rate hikes in a year and improved hedging tools, the rupiah has continued to suffer from souring sentiment towards emerging markets. As a result, local banks and corporates are facing increasingly limited funding opportunities, even as Indonesia’s bond market expands at record pace following the sovereign’s upgrade to investment grade in 2017.

Jan 11, 2019 // 11:15AM

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