The central bank (Bank Indonesia/BI) quoted the mid rate of Rupiah at Rp13,931 against the US dollar on Monday (Jan. 18) inline with oil price drop, concern on China economy, and further Fed rate hike expectation. Nymex’s crude oil price dropped 7% to US$29.01 per barrel in Asian trading this morning. The oil price drop would affect countries producing commodities, including Indonesia, as fiscal revenues would decline.
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