Impact of rupiah's depreciation<\/p>\n
The fluctuating exchange rate of the rupiah against the U.S.
\ndollar, which has been going on since July 1997, naturally has
\nunfavorable impacts. For example, how this situation affects an
\nIndonesian student studying in the United States. If the family
\nis rich and a bank account is opened in the name of the student
\nwith enough funds to cover all his expenses for the duration of
\nhis study, then no problem would arise.<\/p>\n
However, when the parents have to transfer funds every month
\nto cover expenses, then the student's parents would have a
\ndifficult time sending enough money during a monetary crisis like
\nthe present one. This reminds me of my friend's experience about
\na decade ago. Mr. Musa (not a real name) worked as a freelance
\nsalesman for a stationary company. His boss was of the nouveau
\nriche, an up-and-coming businessman, who was quite successful.<\/p>\n
The boss sent his son to Uncle Sam's country to study.
\nHowever, the son was not smart enough to be accepted by
\naccredited schools. Mr. Musa, who sometimes overestimated himself
\nand felt himself to be second to none, also sent his son to the
\nUnited States and kept transferring his hard-earned money
\nmonthly. One year elapsed without mishap, until on Sept. 12, 1986
\nthe rupiah was devalued against the U.S. dollar from Rp 972 per
\ndollar to Rp 1,640\/dollar, a sudden increase of almost 100
\npercent.<\/p>\n
There was no other choice but to call his son back to
\nIndonesia and the son was obliged to work for his father's boss.
\nHowever, the son was quite unhappy with the turn of affairs and
\nit made him morose and unfriendly. It takes a lot of money to
\nstudy in Uncle Sam's country.<\/p>\n
A. DJUANA<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/impact-of-rupiahs-depreciation-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }