Why Indonesia’s Rupiah Hit a Record Low in January

Indonesia’s rupiah has been under sustained pressure for months as investors grow uneasy about the country’s fiscal outlook and the direction of economic policy. Those concerns pushed the currency to a record low against the dollar in January, despite intervention by the central bank to smooth its decline.

With little sign of relief, attention is turning to just how far the rupiah could still fall — and what that would mean for inflation, economic growth and the cost of living for everyday Indonesians.