www.scmp.com ·
Indonesias Rupiah Sinks Record Low Prabowo Shrugs Rout Fears
The full article is on the original publisher site. This page only shows the headline and a very short excerpt.
AI insight
AI-generatedThe Indonesian rupiah's record low and JCI drop signal currency and equity market stress, primarily affecting importers and foreign-currency debt holders in Indonesia. The channel is FX passthrough and capital outflows, with potential margin squeeze for companies with USD-denominated costs. Impact is Indonesia-specific, with no direct commodity or global supply chain disruption mentioned.
Signals our AI researcher identified
Extracted by our AI model from this article and related public sources — not direct quotes from the publisher.
- Indonesian rupiah fell to a record low of 17,720 per US dollar on 2026-05-19.
- Jakarta Composite Index (JCI) dropped 3.46% on the same day.
- Several Indonesian companies removed from major global indices.
- President Prabowo downplayed concerns, stating rural Indonesians not directly affected by dollar transactions.
- Finance Minister Purbaya Yudhi Sadewa reassured markets that Indonesia would not face a crisis similar to 1997.
JCI declines; equity selloff driven by index removal and currency crisis within 48h, magnitude 3-5%.
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Sector impact at a glance
- EM_MARKETSmid
- EM_MARKETSshort
- FX_EMmid
- FX_EMshort