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Steady Capital Inflow Sustains Rupiah Performance in Q1
ndonesia's Central Bank Governor Agus Martowardojo holds new Indonesian Rupiah banknotes at an official ceremony in Jakarta, December 19, 2016. ANTARA/Yudhi Mahatma
Friday, 19 May, 2017 | 12:00 WIB
Steady Capital Inflow Sustains Rupiah Performance in Q1

TEMPO.CO, Jakarta - Bank Indonesia announced that the rupiah exchange rate has strengthened throughout the first quarter of this year. In April, the rupiah has also been relatively stable. 

In quarter one, the rupiah exchange rate gained by 1,1 percent against the US dollar.

Read: Foreign Exchange Reserves Stand at 1218bn USD in Q1

"The exchange rate strengthened to Rp13.326 per US dollar," BI governor Agus Martowardojo said in Jakarta Thursday, May 18. 

Agus said that rupiah was stable in April, supported by the steady capital inflows to domestic markets. This is in line with Indonesia's improving sovereign rating outlook, positive macroeconomics data, and the market's positive sentiments regarding Indonesia's economic prospects.

Read: Bank Indonesia Predicts 51 Percent Growth

The central bank said it will continue taking stabilization steps, in a bid to pursue an exchange rate that fits its fundamentals. Bank Indonesia aims to achieve this by ensuring that the market mechanism runs well.


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