Rupiah sideswiped by skyrocketing crude oil prices.

(From The Jakarta Post)

from THE JAKARTA POST -- SATURDAY, JULY 15, 2006 -- PAGE 2 The rupiah ended the week in a slump Friday, with record-high crude oil prices raising concerns about a possible increase in the country's oil import and fuel subsidy costs

Local shares also fell as business prospects were hurt by the crude price surge pushing up inflation and interest rate expectations, and the weaker rupiah increasing overseas borrowing costs

The rupiah closed down 0.7 percent at Rp 9,170 to the U.S. dollar, after market sentiment from the oil price surge pushed it as low as Rp 9,200 in mid-day trading

It was a sharp comedown after the …