1. An agreement to roll-over debts would reduce the need to convert rupiah into dollars, and potentially stabilize the Indonesian currency. 2. As holders of the Indonesian currency grew concerned that it might fall, they sold it for dollars, driving it lower, they said. 3. All week the Indonesian currency fell like a rock, and residents of Jakarta began to hoard food. 4. But last Friday, the investors yanked their financial life line when the Indonesian currency crisis worsened. 5. Dismay over the scandal has battered the Indonesian currency. 6. Despite the recent collapse of the Indonesian currency, the Suharto family is still widely believed to be among the richest on earth. 7. In Germany, bund traders and investors were cold to Indonesian currency losses, which pushed other European debt higher. 8. In many cases, the foreign companies were to be paid in dollars, while the utility collected its bills in Indonesian currency. 9. It also shook the confidence of some foreign investors, causing a brief but sharp fall in the Indonesian stock market and the value of the Indonesian currency. 10. Last week, monetary authorities in Japan, Singapore and Indonesia sold the dollar for the rupiah several times as part of concerted efforts to support the Indonesian currency. |