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Rupiah's Exchange Rate

SOS: All-Out Efforts to Tame the Rupiah

Tuesday, March 20, 2001

The rupiah plummeted to 11,500 against the US dollar and may plunge even further. Market intervention is not always effective. Handle the IMF and CGI with care.

arsip tempo : 172849465549.

. tempo : 172849465549.

Last week, the rupiah's value against the US dollar took a ride on a roller coaster. It nose-dived to 11,500 before going up to Rp10,000. Were it not for support from Bank Indonesia (BI) and state-owned enterprises (BUMNs), it would have crashed to 12,000 to the greenback. All through last week, the institutions showered the market with dollars. "The amount shot up from around $20 million to $50-$80 million," said a foreign bank dealer in Jakart

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