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US election won’t affect rupiah: BI
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Get stronger – A worker piles rupiah banknotes at a Bank Mandiri cash center in Jakarta on Sept. 27. (Antara/Rosa Panggabean)
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mid the growing speculation that next month’s US presidential election could create uncertainties in the world’s economies, Bank Indonesia (BI) asserted on Friday the Rupiah exchange rate would not suffer any impact from the election.
BI senior deputy governor Mirza Adityaswara told reporters the central bank would continue to monitor the election in a bid to safeguard the stability of the rupiah exchange rate.
“I don’t think the US presidential election will affect the rupiah but we will monitor it and observe its impact on the US dollar regardless of whether Hillary or Trump wins the election,” he said at the central bank headquarters in Jakarta.
He referred to Democratic presidential candidate Hillary Rodham Clinton and Republican candidate Donald J. Trump in the upcoming 2016 US presidential election.
Mirza said when the rupiah depreciated too far against the US dollar in 2013 and 2015, BI took various measures to protect the stability of Indonesian currency amid a tight liquidity in the market, such as by injecting rupiah liquidity.
Citing another example, he said, BI had also ensured that the rupiah would not get too strong when there were strong capital inflows by, among others things, saving them into the country's foreign exchange reserves.
“The point is, BI is always ready to anticipate once there is volatility in the market,” he said. (win/ebf)
