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Jakarta Post

SBY orders BI to protect ailing rupiah

  • Erwida Maulia

    The Jakarta Post

Jakarta   /   Sat, February 7 2009   /  08:54 am

President Susilo Bambang Yudhoyono has ordered the central bank to bolster the value of the rupiah to bring it nearer to 11,000 and prevent it from depreciating further. Having depreciated by around 15 percent last year, the rupiah has been moving toward 12,000 a dollar since the start of the year, once actually breaching that level on Feb. 2, according to Bloomberg. "I sent a message to the Bank Indonesia governor to protect the rupiah. It needs to be guarded from depreciating further so that businesses can do their business calculations," Yudhoyono said Thursday at an industrial site in Karawang, West Java, near Jakarta. The rupiah closed 0.7 percent lower Thursday to 11,750 a dollar from the previous day close. "BI has cut its rate to 8.25 percent. That's a good trend. And Pak Boed *BI governor Boediono* also needs to guard the rupiah - no more depreciation," Yudho...