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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: kmax who wrote (2308)	1/20/1998 11:47:00 PM
From: JD	Read Replies (1) \| Respond to of 4718

Rupiah drops on news of Soharto nomination. From Bloomberg site 01/20/98 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Rupiah Plunges 15% to New Low on Political Concern The Indonesian rupiah plunged 15 percent to a record low as investors rejected President Suharto's plans to run for a seventh term and his nomination of a protege for vice president. ''Investors don't like the idea of Suharto staying on for one-more term. He has nothing new, no fresh ideas to offer the country anymore,'' said Danny Kang, vice president for regional currencies at Bank Brussels Lambert. ''What's more, worries about his health will keep the currency volatile in the coming months.'' The rupiah fell to as low as 12,000 a U.S. dollar. That's its lowest since the currency began trading in 1971. The rupiah has lost 53 percent of its value against the dollar this year. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~