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Business trends

Currency rout hits emerging Asia's companies

Indonesia and India find themselves carrying heavy dollar burdens

Indonesian property developers stand to lose more from currency depreciation    © Reuters

JAKARTA/MUMBAI -- Asian currencies have taken a beating in 2018 from rising U.S. interest rates and investors' growing wariness of emerging market assets. This week both the Indian rupee and Indonesian rupiah hit fresh lows against the U.S. dollar, digging a big hole for Asian companies that have heavy dollar-denominated debt.

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