The New Year had the rupiah begin at 5,447 per dollar. On 15 January, a second letter of intent was signed with the IMF, agreeing an accelerated reform package in return for $43 billion of aid. The rupiah had strengthened from an all-time low of 9,100 per dollar on 23 January to 7,225 per dollar on 15 January. However, as it became clear Suharto had no intention of fulfilling the agreement, the rupiah plummeted by more than 50%, bottoming out at 14,800 rupiah per dollar on 23 January. By now, the government had issued more than 60 trillion rupiah, causing money supply increases and worsening inflation.