Despite the market volatility, analysts insist the current situation bears little resemblance to the 1998 Asian Financial Crisis, when the rupiah collapsed.

The rupiah slumped to 13,804 to the Singapore dollar. Read more at straitstimes.com. Read more at straitstimes.com.

The slump was accompanied by a 4 percent drop in Jakarta’s main stock index, which is under close scrutiny from the global index provider MSCI.

Despite the market volatility, analysts insist the current situation bears little resemblance to the 1998 Asian Financial Crisis, when the rupiah collapsed.

In Indonesia, the 5.61 percent economic growth is not in line with the strengthening of the rupiah exchange rate.