Rupiah dropped against the greenback today to Rp15,088 from Rp14,988 on Tuesday, hitting its lowest level in 20 years, after the country’s inflation rate for September came in lower than expected and amid concerns over emerging market currencies depreciation.

Since the beginning of the year, the rupiah weakened nearly 10% against the US Dollar amid a widening of the country’s current account deficit and a continued strengthening of the US dollar.

As a result, the central bank (Bank Indonesia/BI) already raised its interest rate five times since May lifting worries regarding a contagion from foreign exchange problems in Turkey and Argentina.