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Economy

Central banks rush to calm Asian markets

BANGKOK -- After sliding crude oil prices and the collapse of the Russian ruble triggered wide sell-offs in Asian currencies and stock markets, governments and central banks rushed to calm investors with assurances of strong fundamentals.

     "We are in an excellent position, and there is no need to be too worried about the situation," Indonesian President Joko Widodo said during an economic affairs meeting Dec. 17. The rupiah had hit its lowest level against the dollar since August 1998, after the Asian financial crisis.

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