Desperately Seeking a New Equilibrium

After much anticipation, the US dollar finally soared against the rupiah. Last week, it quickly flew past Rp14,500 and touched the new psychological limit of Rp15,000. Is this a sign of crisis? The political theater immediately resounded with pros and cons. The opposition seized their opportunity to sow panic. In response, the government reassured everyone that Indonesia is safe.

And indeed, a monetary crisis is still far away. Indonesia’s

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