From Economist (subscription required), 9/3/2005:

• Fuel subsidies: The rise in international oil price means that oil imports cost more than six times of the original budget. This alone should not doom rupiah, since Indonesia also benefits from the exports.
• Increase in domestic oil consumption (despite earlier price hike), coupled with the decline in production (some due to dispute with Exxon).
• Too little too late from BI.
• Indecisive administration that doesn’t signal confidence to already nervous investors.