Indobusiness - Bank Indonesia (BI) assume that the exchange rate is through the level of Rp 10,000 per U.S. dollar is still reasonable. Therefore, the condition of the rupiah is still affected by the global economy has yet to recover.
"So, in general, the exchange rate we are still in good shape, reflecting fundamentals. If if its value slightly above Rp 10,000 per U.S. dollar, it's not something to worry about," said central bank governor Agustin Martowardojo when met at the Ministry of the Economy in Jakarta, Wednesday (07/17/2013).
Agus added, with the policy rate hike BI (BI Rate) to 6.5 per cent, it expects there will be foreign funds into Indonesia. Impact, the exchange rate will return reflect fundamentals.
Agus looked weakening rupiah is indeed caused by the global economic downturn. On the other hand, the domestic balance of payments is still down so it erodes the value of the rupiah. "The exchange rate of Rp 10,000 per U.S. dollar was temporary, it is still reasonable," he added.
Agus compare that in 2005 and in 2008 when the government raised subsidized fuel price policies, the position of the exchange rate is also above Rp 10,000 per U.S. dollar. However, the deficit in its balance of payments position is not as wide as it is today.
When compared with the current position, the depreciation of the rupiah is still better. Moreover, if it is compared with state region. For example, the Malaysian ringgit, Philippine peso, Korean won, Indian rupee, or Chinese yuan. The exchange rate of the country was even worse sekawasan from Indonesia.
"So I say, we do not have to worry about the exchange rate. Was already reflect the occurrence of a healthy trade. Means export-import balance, and we generally expect our economic future could be more powerful," he added.
On the other hand, the central bank will keep inflation in order not to overburden the weakening rupiah. During this time, the central bank will focus on keeping inflation on target at the end of the year by 7.2 per cent
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