Rupiah Pegged at Rp13,400 in 2016 RAPBN

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  • Ilustrasi kurs rupiah dan mata uang Indonesia. Getty Images

    Ilustrasi kurs rupiah dan mata uang Indonesia. Getty Images

    TEMPO.CO, Jakarta - Rupiah exchange rate assumption in the 2016 state budget draft (RAPBN) is pegged at Rp13,400 per US dollar.

    Finance Minister Bambang Brodjonegoro said the assumption will still take into account the actual condition in the national and global currency market.

    “The government and Bank Indonesia never stand still to address rupiah’s depreciation,” said Bambang on Tuesday.

    Bambang said the government realizes that rupiah exchange rate’ stability must be maintained so that it would not have broad impact on the national economy. In the 2016 RAPBN, rupiah exchange rate is forecast at Rp13,400 per US dollar. This is based on the maximum exchange rate range approved by the government, Bank Indonesia and the DPR in June 2015, which is Rp13,000-13,400 per US dollar.

    According to Bambang, the government, Bank Indonesia and the DPR will certainly consider the actual condition in further discussion of the 2016 RAPBN with DPR’s budget agency until October 2015, the deadline for setting the 2016 state budget.

    “In addition ot that actual condition, the setting of rupiah exchange rate assumption in 2016 will also take into account the anticipatory and improvement measures that have and will be carried out by Bank Indonesia and the government to strengthen the fundamental of national currency market,” said Bambang.

    According to Bambang, rupiah’s depreciation is a global symptom that has occurred since two years ago. This symptom is associated with the US continued monetary policy normalization, which is worsened by China’s yuan devaluation policy.