(Jan 19): The Indonesian rupiah teetered near record lows on Monday as fresh uncertainty from US President Donald Trump's threat of extra tariffs on European nations added to pressure from concerns over the country's widening fiscal deficit. That, alongside higher inflation and concerns over Bank Indonesia's autonomy continue to pressure the rupiah. Indonesian President Prabowo Subianto has nominated his nephew to join the central bank's board of governors, Reuters reported earlier on Monday, citing two sources. Shaun Lim, a currency strategist with Maybank, attributed the rupiah's weakness to rising domestic fiscal concerns, and global uncertainty, which would affect "vulnerable" currencies such as the rupiah. Elsewhere, the Philippine peso slid 0.1%, continuing to hover just above its record low of 59.524 a dollar.

Source: The Edge Markets January 19, 2026 08:20 UTC