Indonesian rupiah hits lowest since 1998 crisis, raising fiscal concerns under President Subianto.

The Indonesian rupiah has hit its lowest point since the 1998 Asian financial crisis, falling more than 3% this year. This decline is linked to fiscal concerns under President Prabowo Subianto, including his populist policies that are nearing the budget deficit limit. The weakening currency could raise borrowing costs and deter investments, putting pressure on the central bank to support the rupiah.