SINGAPORE: Indonesia's rupiah fell past the psychologically important 12,000-per-dollar level on Friday, hurt by political uncertainties, and looked set to suffer its longest weekly slide in 15 months.
The rupiah fell as much as 0.5 percent to 12,035 per dollar. Indonesia's parliament earlier approved legislation ending direct elections for governors and mayors, a move president-elect Joko Widodo criticised as a "big step back" for the country.
It has eased 0.5 percent so far this week. The loss would mark a sixth straight week of decline, the longest weekly spell of depreciation since late June 2013, according to Thomson Reuters data.
Most emerging Asian currencies were also poised to report weekly losses as the dollar hovered at a four-year high against a basket of major currencies on expectations of a steeper-than-expected rise in interest rates when the US Federal Reserve starts to tighten policy.
An increase in US borrowing costs may hurt the higher-yield appeal of emerging Asian currencies.
The Indian rupee looked set for the worst weekly performance among emerging Asian currencies.
The rupee has lost 0.9 percent against the dollar on weaker local shares and dollar demand from importers.
Malaysia's ringgit has shed 0.8 percent, while the Philippine peso ended the week down 0.7 percent in the domestic currency market. The Thai baht and the Singapore dollar have fallen 0.3 percent each.
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