Jakarta, May 18 -- Indonesia's rupiad (IDR) fell to a record low on May 18 as rising oil prices, global geopolitical tensions and concerns over the health of Southeast Asia's largest economy.

The IDR at one point dropped more than 1% to around 17,668 IDR per USD, its weakest level on record. Indonesia's benchmark stock index also plunged more than 4% after a long holiday, reflecting growing investor concerns.

President Prabowo Subianto sought to reassure the public, saying the weakening rupiah would not significantly affect the daily lives of rural residents. During a visit to East Java, he said the Indonesian economy remains strong with secure food and energy supplies.

However, economists warned that despite limited direct use of USD ...