Minister Calm as Rupiah Hits Rp 14,000 per US Dollar

The rupiah stayed above Rp 13,900 against the US dollar this month. On Tuesday, the rupiah stood at Rp 14,036 against the US dollar at the Jakarta Interbank Spot Dollar Rate (JISDOR), compared to the Rp 13,956 on Monday.

The rupiah in the spot market was equally weak. The rupiah exchange rate on Monday afternoon closed at Rp 14,001 per US dollar, after having opened at Rp 13,949 per US dollar. On Tuesday,the exchange rate opened at Rp 14,004 per US dollar.

Coordinating Economic Minister Darmin Nasution said the rupiah exchange rate would continue to change, as would the rates of other currencies.

He said that although the exchange rate hit Rp 14,000 per US dollar, it would not always stay at this figure.

“Yes, today [the exchange rate] penetrated Rp 14,000. But it will not stay at this figure for long,” Darmin said in his office on Monday evening as reported by kontan.co.id.

Darmin ensured that Bank Indonesia would take measures to ensure the stability of the rupiah exchange rate. “BI will wait for the monthly RDG [board of governors meeting] before coming up with any policies,” he said.

Courtesy : Thejakartapost
Photo : Ganlob.com

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