Indonesian Rupiah Falls to Lowest Level Since 1998 Asian Financial Crisis Amid External Pressures

The Indonesian Rupiah has depreciated to its lowest level since the 1998 Asian financial crisis, reaching Rp 16,640 per US dollar before settling at Rp 16,611, a 0.27% decrease. Airlangga, Coordinating Minister for Economic Affairs, stated that the fluctuations are normal and cited strong economic fundamentals and a rebounding stock market. He attributed the Rupiah's decline to external sentimental factors, without specifying government intervention plans. The Rupiah has weakened by 4.79% over the past year.