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The Ostrich Policy Strangling the Rupiah

Monday, May 4, 2026

The rupiah keeps breaking historical low records. Denial in Jakarta is making things worse.

arsip tempo : 177879918594.

Illustration. Tempo/Alvin Siregar. tempo : 177879918594.

INDONESIA’s financial markets ended April in turmoil. Equities and the currency market both suffered heavy losses. The Jakarta Composite Index plummeted 2.03 percent in a single session on Thursday, April 30, closing at 6,956.8. The rupiah fared no better, plunging to a fresh all-time low and briefly nearing Rp17,400 against the United States dollar.

Several factors underpin the rout. The most immediate is the surge in Brent crude, th

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Yopie Hidayat

weekly economic review Financial Market Subsidies Fuel Prices weekly economic review Rupiah
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