Indonesian Rupiah Stalks Record Low as Fiscal Worries Rattle Investors

KONTAN.Co.ID - SINGAPORE. Indonesia's currency teetered near a record low against the U.S. dollar on Wednesday as worries over slowing growth and rising government spending shook confidence in Southeast Asia's biggest economy.

The rupiah was flat at 16,585 per U.S. dollar at 0400 GMT, hovering near the all-time low of 16,800 touched in June 1998, during the Asian Financial Crisis and just after the fall of Indonesia's authoritarian leader, General Suharto.