CNA-Indonesian rupiah hits record low - repeat of 1997/1998 crisis??

[joemartini]

20MAY2026

Indonesia's central bank has hiked its key rate for the first time in two years, to 5.25%. Bank Indonesia governor Perry Warjiyo said the move was made to support the rupiah amid uncertainties brought on by the war on Iran. This comes as the rupiah has set successive record lows this week. It's now trading at 17,600 to the greenback. The rupiah has depreciated by around 5% year-to-date, making it one of Asia's worst performers. It has also breached the symbolic 17,000 level, bringing back memories of the 1998 Asian financial crisis. Olivia Marzuki looks at what is driving the rupiah's slide.

reminds you of that 1997/1998 Asian financial crisis. as opposed to the 1995/96 condo boom, when ppl queue overnight to book condos.
some even pay ppl to stand overnight in condo launch queues.

THB crash
Rupiah Crash.
SGX crash
SG property crash 40%. (this time must crash way way more than 40%)

 

[eatshitndie]

the sgd appreciation and housing or asset bubble reminds me of jippun after signing the plaza accord in 1985 in which jp huat overnight for strengthening yen against the dollar based on the agreement and making every jap rich (on paper). so what did japs do? buy properties and borrow loans from banks to buy more assets and or properties as though there was no end in sight.