Indonesia has always been a favourite travel destination for Malaysians and visitor numbers are expected to increase with the neighbouring country’s currency hitting a record low. Melaka Tourism Association president Madelina Quah said the low rupiah presents an advantage for Malaysians travelling and shopping in Indonesia. “This will translate to cheaper holidays, shopping for weddings and buying of raw materials for imports against exports’ competitiveness,” she said. “Younger Malaysians...
Indonesian officials have moved to reassure markets that the country’s economic fundamentals remain sound after the rupiah sank to a record low, but President Prabowo Subianto’s attempts to play down the currency’s slide has attracted criticism from economists and social media users alike. The rupiah fell to 17,720 per US dollar on Tuesday, cementing its status as one of Asia’s worst-performing currencies this year. Indonesia’s main stock index, the Jakarta Composite Index (JCI), tumbled 3.46...