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Strategies & Market Trends : Asia Forum
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To: Mohan Marette who wrote (2148)2/14/1998 1:31:00 PM
From: Ramsey Su  Read Replies (2) of 9980
 
Mohan,

Forget about the merits of the Rupiah peg for a second and think about feasibility. If they peg the rupiah at 5000 to the dollar, there will be a rush to the banks to exchange rupiah into dollars. Foreign creditors will suggest rolling over loans in dollars vs rupiah. Soros' jet would have landed, shorting every rupiah that he can gets his hands on.

The peg would go down in history as the shortest ever. I wonder if it will survive one banking day. Then again, that would be all Suharto need to get his and his cronies rupiah out of the country in the form of dollars, because they will be first in line before the banks open.

These politicians are the same everywhere. Can't blame Clinton for trying to get ahead here and there. (can't resist a lighter side commend)

Ramsey
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