| 1 | This year, it is down roughly 4% against the Indian rupee, the Indonesian rupiah and the Korean won, and 3% against the Thai baht. | |
| 2 | In Indonesia, the central bank stepped in the bond market to buy rupiah-denominated bonds to halt a slide in prices. | |
| 3 | IDR: We believe that Indonesia' s moderately supportive fundamentals are likely to help keep USD/IDR relatively stable over the shorter term. | |
| 4 | We therefore believe that the balance of fundamentals is tilted gently in favor of the IDR. That said, risks are building for 2009. | |
| 5 | It is also thinking about reintroducing a cap on rupiah accounts held by foreigners, the latest in a series of dykes, bunds and culverts designed to control flows of capital. |
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