Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Robert Sidauruk
Agus Martowardojo, Governor of Bank Indonesia (BI) urges the public to keep calm in responding the weakening of rupiah’s exchange rate against US dollar. The current exchange rate has reached IDR 12,000. The pressure on rupiah, the Governor explains, is affected by the current global economic situation and will only last for a temporary period of time.
The improvement on global financial condition is the main reason of the slow economic growth in developing countries, including Indonesia. Hence, it caused the decrease of commodity prices in the market and lead to the weakening of rupiah’s exchange rate.
“The weakening on exchange rate situation is also occurred in other Asian countries. We should not be panic as the situation reflects our fundamental economic condition,” says Agus at BI’s main office in Jakarta on Friday.
BI has prepared policies to overcome the problem, including intense coordination with the Government to suppress the deficit on national current account. Agus informed that for short and middle term policy, BI is currently preparing policy on interest rate adjustment, macroprudential, and monetary operation.
“In near future, BI and the Government will issue several policies which aims to preserve stability on national current account,” Agus informs.
Responding this issue, Enny Sri Hartati, economist at the Institute for Development of Economics and Finance (Indef), perceives that government authorities on fiscal and monetary must strengthen its policy on fundamental factors that causing the depreciation of rupiah’s exchange rate, such as the deficit on current account.
“The main cause of rupiah’s depreciation is the considerable level of deficit on national current account,” says Enny during a seminar held in Jakarta on Tuesday.
Enny expressed that the most appropriate policy measures to reduce the deficit on current account is by controlling import on commodity as well as oil and gas. Enny also noted that the Government needs to start focus on optimization of non-tariff barrier policy and to perform strict supervision on the implementation of Indonesia National Standard (SNI).
Other option raised by Enny is to encourage currency diversification when making payment on international trading transaction. This may be implemented when Indonesia engages in transaction with Asian country such as China and Japan, which not necessarily required US dollar for payment currency.
“If the currency diversification can be realized, rupiah’s exchange rate will be more stable as it no longer highly dependent on the availability of US dollar in the market,” concludes Enny.
(hot/kc)
Fathan Qorib, Robert Sidauruk
Agus Martowardojo, Governor of Bank Indonesia (BI) urges the public to keep calm in responding the weakening of rupiah’s exchange rate against US dollar. The current exchange rate has reached IDR 12,000. The pressure on rupiah, the Governor explains, is affected by the current global economic situation and will only last for a temporary period of time.
The improvement on global financial condition is the main reason of the slow economic growth in developing countries, including Indonesia. Hence, it caused the decrease of commodity prices in the market and lead to the weakening of rupiah’s exchange rate.
“The weakening on exchange rate situation is also occurred in other Asian countries. We should not be panic as the situation reflects our fundamental economic condition,” says Agus at BI’s main office in Jakarta on Friday.
BI has prepared policies to overcome the problem, including intense coordination with the Government to suppress the deficit on national current account. Agus informed that for short and middle term policy, BI is currently preparing policy on interest rate adjustment, macroprudential, and monetary operation.
“In near future, BI and the Government will issue several policies which aims to preserve stability on national current account,” Agus informs.
Responding this issue, Enny Sri Hartati, economist at the Institute for Development of Economics and Finance (Indef), perceives that government authorities on fiscal and monetary must strengthen its policy on fundamental factors that causing the depreciation of rupiah’s exchange rate, such as the deficit on current account.
“The main cause of rupiah’s depreciation is the considerable level of deficit on national current account,” says Enny during a seminar held in Jakarta on Tuesday.
Enny expressed that the most appropriate policy measures to reduce the deficit on current account is by controlling import on commodity as well as oil and gas. Enny also noted that the Government needs to start focus on optimization of non-tariff barrier policy and to perform strict supervision on the implementation of Indonesia National Standard (SNI).
Other option raised by Enny is to encourage currency diversification when making payment on international trading transaction. This may be implemented when Indonesia engages in transaction with Asian country such as China and Japan, which not necessarily required US dollar for payment currency.
“If the currency diversification can be realized, rupiah’s exchange rate will be more stable as it no longer highly dependent on the availability of US dollar in the market,” concludes Enny.
(hot/kc)