Rupiah decline different from 1998 crisis, says Indonesia central bank

JAKARTA — Indonesia’s central bank on Wednesday tried to tame market concerns over the rupiah’s recent depreciation to a 27-year low, saying the situation is far from a repeat of the 1998 financial crisis.

“We’ve learned a lot since then,” said Solikin Juhro, Bank Indonesia’s head of macroprudential policy, during a press briefing after the central bank, lenders and investors saw a rapid fall of the rupiah in the currency market on Tuesday.