Rupiah to strengthen soon: BI

Bank Indonesia (BI) is optimistic that the rupiah will soon strengthen, saying pressure from the global economy will ease after the central bank's intervention into the currency market.

“BI is committed to staying in the market, if needed, and to carrying out a number of measures, including direct intervention, purchasing the government bonds,” BI deputy governor Hartadi A. Sarwono said in Jakarta on Sunday.

He said that the measures, some of which were launched last week, had improved investors' confidence in the Indonesian market, easing pressures on the rupiah.

This will soon bring the rupiah back to its previous strengthening trend, Hartadi added.

“We've even recorded the entering of some new strategic investors into Indonesia's financial market,” he said.

The rupiah stood at 8,750 per one US dollar on Friday after staying at about 8,500 per dollar in the previous months, Antara news agency reported.