Indonesia Rupiah Falls Most in Seven Months on Rising Oil Prices

The Indonesian rupiah slid by the most in seven months as rising oil prices weighed on sentiment, even as Bank Indonesia signaled it had stepped up efforts to steady the the market.

The currency dropped 0.7% to 17,295 per dollar on Thursday, its biggest one-day decline since September. It has fallen almost 2% in April to underperform emerging Asian peers, while stocks slid and 10-year bond yields rose eight basis points to nearly 6.70%.