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Rupiah projected at Rp 14,800 to Rp 15,200 per US dollar: BI
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Bank Indonesia Governor Perry Warjiyo (thejakartapost.com/Anton Hermansyah)
B
ank Indonesia (BI) Governor Perry Warjiyo estimates the rupiah exchange rate will range between Rp 14,800 and Rp 15,200 per US dollar in 2019, which is a revision of BI’s projection in September of between Rp 14,300 and Rp 14,700.
The central bank revised its projection after considering several factors, including monetary tightening by the United States and European Union.
“Europe may also introduce monetary tightening policy in the second half of 2019 that will balance the US dollar’s strength,” said Perry during a hearing on the state budget at the House of Representatives building in Jakarta on Monday.
Therefore, he expected global uncertainty to continue in 2019, although there was indication of improving conditions.
Meanwhile, Perry also expressed the hope that joint efforts between the central bank and government to narrow the current account deficit would be fruitful in attracting foreign capital.
“From BI’s side, we have introduced several policies, not only increasing the interest rate to stabilize the exchange rate, but also encouraging foreign exchange swaps or domestic non-deliverable forward contracts to develop the domestic foreign exchange market,” he added as reported by kompas.com. (bbn)
