Breaking the Rp 17,800 Barrier: How Oil Shocks, Foreign Outflows, and a Hawkish Fed Are Squeezing the Indonesian Rupiah - InvestorTrust
Breaking the Rp 17,800 Barrier: How Oil Shocks, Foreign Outflows, and a Hawkish Fed Are Squeezing the Indonesian Rupiah - InvestorTrust
Source: InvestorTrust
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DW NOTE
Indonesia imports 98% of its oil. The Strait is closed. WTI is at $96 and the rupiah is breaking 17,800 to the dollar not because of Fed hawkishness but because the country's entire energy bill just doubled and there's no sign the chokepoint reopens. Foreign outflows are the symptom, not the disease.