Anchoring the Rupiah
Monday, November 13, 2000
The free-floating exchange rate has apparently made the rupiah vulnerable. During the year, its value has been weakening and fluctuating. While the rupiah’s performance is not conducive to the business community, it also warns of the possibility of another crisis.
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"The rupiah is like an anchorless ship on the high seas. It’s being rocked by the waves," says economist Adrian Panggabean, who lives in Singapore. Compared to the Singapore dollar, which is relatively stable, the Indonesian currency is becoming ever more fragile. Under the administration of Abdurrahman Wahid, for instance, the rupiah’s value has dropped to its current level of approximately 9,200 per US dollar, from about 7,000 when he
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