Strengthening of Rupiah Depends on Several Factors: Minister

    Desi Angriani, Christopher Harindra - 05 Desember 2019 10:37 WIB
    Strengthening of Rupiah Depends on Several Factors: Minister
    Illustration ( Rizal)
    Jakarta: Minister of Finance Sri Mulyani was reluctant to assume the rupiah exchange rate could appreciate below IDR 10 thousand per USD. The strengthening of the rupiah depends on the balance of payments and international dynamics.

    "We’ll see from the balance of payments and international dynamics," she said at the Presidential Palace Complex, Jakarta on Wednesday, December 4, 2019.

    Currently, global dynamics is unpredictable. Various external risks will still disrupt the stability of the Indonesian currency. Moreover, Indonesia's Balance of Payments (NPI) in the third quarter of 2019 still recorded a deficit of USD 46 million.

    Therefore, Mulyani did not want to comment recklessly on the issue. She said currency projection is Bank Indonesia’s (BI) domain. "Regarding the rupiah, BI has the authority," said the Finance Minister.

    Meanwhile, the Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, believes that the rupiah can appreciare again to IDR 10,000 per USD. Currently the rupiah is still perched at IDR 14,100 per USD.

    The strengthening of the rupiah will occur in line with efforts to strengthen the current account balance which is currently experiencing a deficit. Moreover, the government is serious about down-streaming in order to reduce imports, especially in the energy sector.

    "As much as IDR 300 trillion in energy imports can be reduced. We are again calculating what percentage can be reduced for B50-B100," Luhut said at the Office of the Maritime and Investment Coordinating Ministry, Central Jakarta on Tuesday, December 3, 2019.


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