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The rupiah immediately fell 7%, with foreign money quickly leaving the country. The investor confidence in Indonesia was shaken, and due to previous deregulations, much of the Indonesian stock market was owned by foreign investors. Local confidence in the currency was also undermined as the population followed suit, selling rupiah for dollars.
By 1968 the Suharto New Order had been established, and Bank Indonesia, as of 1968 was given sole right to issue banknotes (including notes below 5 rupiah) as well as coins (which had previously been the issue of the central government), which it did in a range from 1 to 1000 rupiah. [10] In 1970, Indonesia added 5000 and 10,000 rupiah ...
The Independence Day of Indonesia (in Indonesian formally known as Hari Ulang Tahun Kemerdekaan Republik Indonesia shortened "HUT RI", or simply Hari Kemerdekaan, and colloquially referred by the people as Tujuhbelasan, meaning "the Seventeenth") is a national holiday in Indonesia commemorating the anniversary of Indonesia's proclamation of independence on 17 August 1945. [1]
The weakening rupiah spurred panic buying of US dollar by these companies, causing the Indonesian rupiah to drop in value from a pre-crisis level of Rp. 2,600 to a low point in early 1998 of around Rp. 17,000. Consequently, many companies were bankrupted and the economy shrank by 13.7%, leading to sharp increases in unemployment and poverty ...
The 13 May incident was an episode of Sino-Malay sectarian violence that took place in Kuala Lumpur, the capital of Malaysia, on 13 May 1969.The riot occurred in the aftermath of the 1969 Malaysian general election when opposition parties such as the Democratic Action Party and Gerakan made gains at the expense of the ruling coalition, the Alliance Party.
The Indonesia–Malaysia confrontation or Borneo confrontation (simply known as Konfrontasi in Indonesia, Malaysia and Singapore) was an armed conflict from 1963 to 1966 that stemmed from Indonesia's opposition to the creation of the state of Malaysia from the Federation of Malaya.
As the Malaysian dollar replaced the Malaya and British Borneo dollar at par and Malaysia was a participating member of the sterling area, the new dollar was originally valued at 8 + 4 ⁄ 7 dollars per 1 British pound sterling; in turn, £1 = US$2.80 so that US$1 = M$3.06. In November 1967, five months after the introduction of the Malaysian ...
The legal case below is solely based on a lawsuit Fakhry filed within his home state of Malaysia, where Fakhry has much political connections and power. [18] If Manohara had returned to Malaysia or attended the court cases, she ran the threat of being kidnapped from her freedom again or lend credibility to a very biased.