THe Rupiah is taking a bit of a dive right now so dashed off the bank to cash in some USD at rates about 10% better than last month. Got 10,490rps to the dollar! Had to wait in line a long time before I got served as a lot of people wanting to see the tellers this morning. Odd that the Rupiah is diving with no aparent external signs and amidst all the reports of monies coming in to the country. People trying trying to blame Pertamina and the oil price but Indo sells way more than it imports so high oil price should be propping up the rup not knocking it down. None the less until the govt goes ahead and removes the fuel subsidies the situation won’t improve. People are just going to have to get used to paying more for transport like they do everywhere else in the world. It might serve to keep some of the cars off the road as well. A large percentage of the subsidized fuel is no doubt being smuggled overseas exacerbating the whole situation further. I fail to see the Govt’s reluctance to raise oil prices.
Now is the time well before the next elections. Why do all the politicians here seem to have their hands tied…they can go after Aussis in Bali feeling them up for a few pills but unable to do anything aboiut the chronic problems this country faces.