Indonesia’s rupiah rebounds but rate rises threaten middle class
Indonesia's rupiah has shown a recovery, trading at 17,762 against the US dollar, a rebound from its recent historic low. This improvement is attributed to Bank Indonesia's proactive monetary policy, which included a 75 basis point rate hike, bringing the benchmark lending rate to 5.5%. The stock market also saw a rally, with the Indonesia Composite Index gaining 5% after a period of significant decline. AI
