Indonesia's rupiah hits record low on central bank independence worries

SINGAPORE - Indonesia's rupiah hit a record low on Tuesday as concerns over central bank independence resurfaced amid lingering fiscal worries that have kept investors nervous about Southeast Asia's biggest economy.The latest bout of weakness in the rupiah IDR=, which slid to 16,985 per U.S. dollar on Tuesday, came after President Prabowo Subianto nominated his nephew to join Bank Indonesia's Board of Governors.The currency is down nearly 2% in January after dropping 3.5% in 2025 and was last at 16,965. The yield on 10-year Indonesia government bond ID10YT=RR was 3.3 basis points higher at…READ FULL ARTICLE