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Jakarta Post

Rupiah to strengthen further as foreign investors return: BI

  • Adrian Wail Akhlas

    Jakarta

Jakarta   /   Mon, June 8 2020   /  01:00 am
Karyawan menunjukkan uang rupiah dan dolar AS di Bank Mandiri Syariah, Jakarta, Senin (20/4/2020). Nilai tukar rupiah terhadap dolar Amerika Serikat (AS) menguat pada penutupan perdagangan Senin (20/4) sebesar 52 poin atau 0,34 persen ke level Rp15.412 per dolar AS. (Antara/Nova Wahyudi)

Bank Indonesia (BI) expects the rupiah to continue strengthening – even after the currency meets pre-COVID-19 levels – as foreign investors return in expectation of a global economic recovery. The rupiah rebounded by almost 15 percent since the end of March to reach 13,877 per US dollar on Friday, Bloomberg data shows, erasing most of the losses it recorded in the first three months of the year amid outbreak fears. “Foreign investors’ confidence in Indonesia’s economy is getting better as reflected by rising capital inflow into government bonds,” BI Governor Perry Warjiyo told reporters in a live-streamed news conference on Friday. “The rupiah remains undervalued and will strengthen further.” The rupiah was still undervalued, Perry claimed, as the country’s credit default swaps had yet to fall to pre-pandemic levels while its...