TEMPO.CO, Jakarta - The rupiah is reacting positively to the announcement of new ministers as a result of President Joko "Jokowi" Widodo's second cabinet reshuffle. The cabinet revamp includes the appointment of Sri Mulyani Indrawati as Finance Minister by Jokowi.
The rupiah had opened with a 0.11 percent gain (15 points) to be traded for 13.160 per US dollar this morning. Yesterday, the rupiah weakened, closing with a 0.07-percent depreciation.
Just before noon break, President Jokowi announced the replacement of a number of ministers, including the return of Sri Mulyani as Finance Minister.
Bambang Brodjonegoro, the finance minister that Jokowi appointed in 2014, has been shifted to National Development Planning Minsiter position. Thomas Trikasih Lembong, the then trade minister, is transferred to the Chief of the Indonesia Investment Coordinating Board position. The trade minister's post is now replaced by Enggartiasto Lukito.
Some other new names included in President Jokowi's cabinet are Budi Karya as the Transportation Minister replacing Ignasius Jonan, Achandra Tahar as the Energy and Mineral Resources Minister, and Airlangga Hartanti as the Industrial Minister.
By 12.00 pm, the rupiah gained another 59 points (0.45 percent) to Rp13,166 per US dollar, the sharpest appreciation posted by an Asian currency today.
BISNIS.COM