Dato Sri Tahir Asks Entrepreneurs to Exchange Dollar into Rupiah  

TEMPO.CO, Jakarta - The CEO of Mayapada Group, Dato Sri Tahir, expected his recent move to exchange U.S. dollars into rupiah would be followed by other businessmen.

“We hope other businessmen can exchange their [dollars into local currency], we assume many of them have money in Singapore,” said Tahir in Bank Indonesia complex, Jakarta, Monday, October 15.

Tahir also asked entrepreneurs not to fret about the Indonesian economy, allowing for the international praises Indonesia received during the recent IMF-WB annual meetings in Bali. 

“We, as a banker from Bank Mayapada, I do not see people rush to purchase dollars. This current situation is far different from that in 1997 and 1998,” he noted. 

Read: Rupiah Expected to Strengthen to 15,100/US$ 

When asked about his opinion on the weakening rupiah, Tahir saw the situation as a matter of adjustment. He explained that the rupiah was not declining, but rather the U.S. dollar was strengthening, since other currencies were also depreciating.

“So, other currencies also weaken, as in the adjustment period.”

Earlier, Tahir announced he had exchanged his personal funds worth US$93 million and S$55 million into rupiah, which was equal to Rp2 trillion. He considered this act as his duty as a citizen.

Tahir is the tenth wealthiest person in Indonesia as reported by Forbes in 2017 with total assets of US$3.5 billion per December 2017. Based on updated news from Forbes, his total assets were now in the neighborhood of US$3.8 billion.

CAESAR AKBAR