Why is the Indonesian Rupiah hitting historic lows when it's already deeply undervalued?

The Indonesian Rupiah (IDR) has dropped to a historic low, crossing the psychological threshold of 18,000 per US Dollar alongside a sharp multi-year contraction in domestic equity markets.

Why is the Indonesian Rupiah hitting historic lows when it's already deeply undervalued?
The Indonesian Rupiah (IDR) has dropped to a historic low, crossing the psychological threshold of 18,000 per US Dollar alongside a sharp multi-year contraction in domestic equity markets.

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