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On This Day - What happened 14 August 1997 AD
Check most memorable events 14 August 1997 AD.
Indonesia Thursday Aug 14, 1997 1997 Asian financial crisisA Free-floating exchange rate
Indonesia Thursday Aug 14, 1997 On 14 August 1997, the managed floating exchange regime was replaced by a free-floating exchange rate arrangement. The rupiah dropped further. The IMF came forward with a rescue package of $23 billion, but the rupiah was sinking further amid fears over corporate debts, massive selling of rupiah, and strong demand for dollars.
Indonesia Thursday Aug 14, 1997 1997 Asian financial crisisA Free-floating exchange rate
Indonesia Thursday Aug 14, 1997 On 14 August 1997, the managed floating exchange regime was replaced by a free-floating exchange rate arrangement. The rupiah dropped further. The IMF came forward with a rescue package of $23 billion, but the rupiah was sinking further amid fears over corporate debts, massive selling of rupiah, and strong demand for dollars.