Indonesian Rupiah Hits Record Low Amid Global Oil Price Surge

Jakarta. The Indonesian Rupiah has plummeted to its lowest level in history. On Thursday, the exchange rate reached 17,315 Rupiah per US dollar. This marks the weakest position ever recorded. Following the near-stoppage of the Strait of Hormuz due to the Iran conflict, global oil supplies have been disrupted, causing crude oil prices to soar.Even the US ceasefire in Iran has failed to stabilize the situation. Despite the US halting direct attacks on Iran, the subsequent attacks on ships in the Strait of Hormuz by Iran have driven crude oil prices higher in the global market on Thursday. As oil becomes more...