Why Indonesia’s sinking rupiah is a flashing alarm for its $1.4tn economy | News

Indonesia’s rupiah is trading at record lows against the US dollar, stirring memories of the 1997-98 Asian financial crisis.

While the rupiah has been battered by the market uncertainty stemming from US President Donald Trump’s sweeping tariffs, the currency’s slide began weeks before Wednesday’s “Liberation Day” announcement.

Since the inauguration of Indonesian President Prabowo Subianto in October, the rupiah has slid about 8 percent against the dollar amid concerns about the…