Rupiah Exchange Rate Set at 14,500/US$ in 2019 Macro Assumptions
18 September 2018 17:26 WIB
TEMPO.CO, Jakarta - The ongoing rupiah correction prompts the government to change the exchange rate assumption to Rp14,500 per US dollar for the 2019 macro assumptions. The rate is increased from the previous assumption of Rp14,400 per US dollar.
Said Abdullah, deputy chairman of the Budgetary Board, said that the House of Representatives and the government agreed to peg the assumed rate at Rp14,500 per dollar, which is Bank Indonesia's mid-rate.
Read: Rupiah Exchange Rate at Rp14,908 per US Dollar Today
Meanwhile, the Finance Ministry's chief of Fiscal Policy Agency (BKF) Suahasil Nazara said the rupiah is currently very weak, but the government projects gain potentials.
He said that the rupiah will remain weak next year, but pressures won't be as hard as this year.
The Budgetary Board also agreed on other macro assumptions for the 2019 state budget, including an economic growth rate of 5.3 percent, an inflation rate of 3.5 percent, and a 5.3-percent yield for the three-month state treasury bills (SPN).
Read: Bank Indonesia Pledges to Keep Rupiah Attractive
The board also agreed to an oil price assumption of US$70 per barrel, oil lifting volume of 775,000 bpd, and gas lifting of 1.25 million bpd.
Bisnis.com
