Rupiah`s Appreciation Does Not Mean Better Economy: Minister

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  • TEMPO.CO, Jakarta-Coordinating Economic Minister Darmin Nasution asserted that rupiah’s recent appreciation did not necessarily signal an improving economic condition. Therefore, Darmin said that the government would remain cautious.

    “The world economy, particularly ours, is not improved yet,” Darmin said at his office on Friday, October 9, 2015.

    According to Darmin, the rupiah’s recent appreciation was triggered by people’s tendency to buy US dollar and stop speculating.

    “It has opened opportunities for rupiah to strengthen and for business owners to make decisions related to their businesses,” he added.

    On Friday noon, October 9, 2015, rupiah was traded in Jakarta at Rp 13,491 per us dollar, from previously Rp 13,887 per US dollar. Research Head of Korindo Securities Indonesia Reza Priyambada said that US dollar supplies continued to increase following the announcement of the third economic policy package.

    “The economic package launched by the government and Bank Indonesia’s monetary policies have gained positive response from market makers,” Reza said.

    In addition, Reza explained that the international oil price over the last few days had added the positive sentiment for rupiah and those of other developing countries.