Senior Deputy Governor of Bank Indonesia (BI) Mirza Adityaswara said, the central bank has to be kept Rupiah proportional with the fundamental condition of the domestic economy. Therefore, Indonesia needs competitive exchange rate of rupiah that it could stimulate exports and curb imports. Toward the end of the first period of the tax amnesty program when the redemption funds and fund repatriation grew rapidly , rupiah continue to strengthen to reach the level of Rp12,900 against US dollar from a level of more than Rp13,00o early this year. Until Sept 29 , Rupiah appreciated 6 percent at the level of Rp12,945 per US dollar. Despite the appreciation, rupiah has not been free from external pressure . Varying monetary policies of advanced nations and uncertainty over the decision of the US Central on its fund rate still are shadowing the rupiah movements.
Menu