This time different for Asia as 1997-type crisis averted

SINGAPORE: South-East Asian currencies are tumbling, and that may be a good thing.

Indonesia’s rupiah and Malaysia’s ringgit have fallen to levels hit during the Asian financial crisis of 1997-98, leading a decline in the region’s currencies. The drop won’t spark the same economic meltdown this time around, according to analysts who watched the disaster unfold almost two decades ago. In fact, it could be a healthy realignment that helps boost exports.