Looking Back To 1997

Indonesians must brace themselves to face the coming storm. Last Friday, the rupiah once again touched its nadir since the 1997 Asian financial crisis at Rp13,481 to the US dollar.

This is indeed a global phenomenon. After its last Wednesday meeting, the US Federal Reserves (Fed) sent a clear signal that the US economy is on the mend. The market expects the Fed rate to rise as early as next month. Consequently, as with many