BI's Anti-Speculation Maneuvers
The Singapore money market was shaken by the new regulations from Bank Indonesia that were announced on Monday last week. But how effective will these rules be and for how long can it help prop up the rupiah?
January 23, 2001
SINGAPORE’S money market is in a state of panic and the supply of rupiah on the island nation is clogged up. Banks have frozen their rupiah accounts and are now busy searching for any source of rupiah, offering high rates of interest. And this time it was Jakarta that triggered all this, whereas usually it’s Jakarta that’s in a panic. This goes to show that there is now absolutely no doubt that Singapore is the main source of t
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