JAKARTA—Indonesia's central bank has moved to shore up its rupiah currency after it hit a four-year low, as foreign investors exit emerging markets due to expectations that huge stimulus schemes in the developed world will soon end. Developing economies around the world are starting to see their stock markets and currencies tumble on the belief that the US Federal Reserve will pull the plug on its giant easy money program. Bank Indonesia said it would raise the rate it pays lenders for overnight deposits, known as the Fasbi, by 25 basis point to 4.25 percent effective Wednesday. Officials hope to encourage lenders to leave their rupiah with the central ...
Keep on reading: Indonesia moves to back up rupiah amid foreign outflow
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