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Currency

Asian currencies gain on Fed's more cautious stance

Updated : March 21, 2019 11:31 AM IST

The Fed on Wednesday abandoned plans for any interest rate hikes this year amid signs of an economic slowdown, and said it would halt the steady decline of its balance sheet in September.
The Indonesian rupiah strengthened as much as 0.6 percent against the dollar, touching its highest level since February 28. The rupiah has outperformed its peers by a vast margin this year after declining nearly 6 percent in 2018.
Asian currencies gain on Fed's more cautious stance

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