Indonesian currency falls further

For the third day running, Indonesia's currency, the rupiah, has fallen to a new record low against the dollar.

It lost a further ten per cent, taking it to well under one-third of its value six months ago.

The rupiah's continuing slide follows President Suharto's budget, which economists say was based on unfounded optimism about the exchange rate and economic growth.

Observers say the President has not been sticking to the conditions of a rescue package agreed with the International Monetary Fund -- notably by allowing relatives of his to reopen an insolvent bank.

Many thousands of Indonesians have already lost their jobs, and hundreds of businesses are believed to be on the verge of bankruptcy.

Meanwhile, Malaysia has intervened to defend the ringgit, as currencies continue to fall in other parts of Asia.

From the newsroom of the BBC World Service