Indonesia’s rupiah hits lowest level since Asian financial crisis

JAKARTA — The Indonesian rupiah has fallen to its lowest level against the U.S. dollar in over a quarter century, reaching 16,640 on Tuesday, a level not seen since the Asian Financial Crisis of 1998.

According to the Jakarta Interbank Spot Dollar Rate published by Bank Indonesia, the rupiah closed at 16,622, down 0.37% from the previous day.