BANK Indonesia and the government last week seemed to indicate they have little strength to protect the rupiahs value. All efforts are being expended, but the rupiah continues its downward slide.

According to Steven Chang, Vice President of State Street Bank & Trust Co. Global Market in Hong Kong, the spiraling world oil price has caused a problem for the rupiah. It is highly likely that [the rupiah] will continue to weaken, he said.

The rupiahs do