The Old Bali Blog « Just another meltdown: Indonesian rupiah plunges to pre-1998 crisis levels
Well, this isn't great news if you earn in Indonesia.
December 17, 2014: The Indonesian Rupiah plunged to the 1998 crisis level of Rp.12,698 a dollar - a fall of 1.9% in a day and its weakest close since August 1998 when very vicious riots spread around the country.
It's great if you're on holiday, though.
Other regional currencies also depreciated in Malaysia, Thailand and Japan where stock markets fell sharply. The Jakarta Composite Index (JCI) fell by 1 percent. And just as in '98, significant capital outflows were also recorded in the Indonesian bonds market - this month, Rp.11,2 trillion just left the building.
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