Quote:
Originally Posted by SEAJ
I was in Indonesia for a few weeks towards the end of 1997.
Prior to 1997, the Rupiah vs USD had been hovering around 2300 - 2500, went up to between 2,500-3,800 first part of 1997 before drastically jumping to +-6,000 around Christmas, and then +-12,000 and reaching a high of over 16.600 when the riots etc broke out in 1998.
Just approximate rates I remember.
SEAJ
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Was rather surprised that the flutuation of the rupiah can be so great before reaching economic recession in 1998.
I reckon at that time property market in jakarta must have suffered big time man.
I remember during year 1998, the value of my relative semi detached house in manga besar has dropped almost 10 times, very jialat man.
House become concrete.
Money become paper.
Car become metal.
Land become soil.
ATM card become plastic.
But gold is precious...
