Indonesia rupiah falls to lowest level since Asian financial crisis

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Indonesia’s rupiah fell to its weakest level against the US dollar since the Asian financial crisis of 1998 over mounting fears about the policies of President Prabowo Subianto and their impact on the fiscal position of south-east Asia’s largest economy.

The rupiah fell as much as 0.5 per cent to briefly hit 16,640 against the dollar on Tuesday, not far from its…