Bank Indonesia Stays Alert over Rupiah Weakening

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  • Rupiah Anjlok Terburuk Sejak 1998

    Rupiah Anjlok Terburuk Sejak 1998

    TEMPO.CO, Jakarta - Bank Indonesia (BI) spokesperson Tirta Segara said that BI would make efforts to prevent the Rupiah exchange rate from plunging even further.

    "We will optimize the monetary operation to maintain liquidity in the market," Tirta said at Bank Indonesia building in Jakarta on Friday, August 21, 2015.

    Tirta reminded public to view the rupiah weakening comprehensively. According to Tirta, other countries, such as Malaysia, Singapore and Australia are also experiencing similar currency depreciation.

    Tirta admitted that the economic slowdown in China, the US and Vietnam had been the main factor of rupiah's declining rate. The central bank, Tirta said, would bring rupiah rate to its fundamental level.

    "Fundamental is dynamic. If other countries depreciate its currency, we can [do something to] be competitive," Tirta added.

    Tirta explained that it would not be necessary for Indonesia to follow steps made by other countries in addressing the situation. Indonesia, Tirta claimed, had its own strategy.

    "BI will always follow the market to deal with the issue," he said.