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The Big Story: Why Indonesia’s record low Rupiah is triggering panic and memes
Indonesia’s rupiah has plunged to record lows against both the US dollar and Singapore dollar, sparking market anxiety, political backlash and a flood of viral memes online. While Indonesian President Prabowo Subianto has sought to reassure the public that the country’s economic fundamentals remain strong, growing concerns over inflation, purchasing power and investor confidence are raising questions about the broader health of Southeast Asia’s largest economy. So what’s really driving the rupiah’s sharp decline? How worried should ordinary Indonesians and…
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