INDONESIA'S rupiah plunged to a record low against the US dollar on Thursday as investors shifted towards the greenback amid expectations that the US Federal Reserve (Fed) would continue raising interest rates ahead of the new year.
The rupiah, Asia's worst-performing currency this year, weakened to as low as 18,253 per US dollar in afternoon trading.
AFP reported on Friday that the sharp depreciation prompted Bank Indonesia to intervene in the foreign exchange market to support the country's currency.
The rupiah's decline came shortly before Indonesia's vice-president resigned amid controversy surrounding his high school diploma.
The developments added to mounting pressure on the government, which is facing widespread public discontent over the economy, corruption and forest fires. - November 13, 2026
.jpeg)
