CIDISS. Bank Indonesia urged people to remain calm even though the rupiah exchange rate against the US dollar continued to weaken. This happens not because of the decline in domestic economic growth, but because of external factors. Bank Indonesia will strengthen coordination with the Ministry of Finance and the Financial Services Authority (OJK) in an effort to maintain the stability of the rupiah exchange rate.
Bank Indonesia Governor Ferry Warjiyo said, BI prepared steps to stabilize the rupiah exchange rate through the policy mix. First, increase the volume of intervention in the forex market. Second, buying SBN on the secondary market. Then third, opening FX Swap auctions, with an auction target of 400 million US dollars, and fourth, always opening windows swap hedging.
Ferry said “In addition, Bank Indonesia also continues to improve coordination with the Government including the Financial Services Authority (OJK) to ensure that exchange rate stability and financial system stability are maintained,”
Bank Indonesia believes that Indonesia’s economic conditions remain strong and resilient. Several indicators of the Indonesian economy show this resilience, such as economic growth that grew quite well, and low inflation and maintained.
On the other hand, the weakening of the rupiah exchange rate has a positive impact on exports. Because the price imposed in global trade is the American dollar. “Entrepreneurs who export goods abroad are pleased with him, because he gets a bigger payment than before the dollar rose on the rupiah,” he said.
President Joko Widodo said the recent weakening of the rupiah exchange rate was dominated by external rather than domestic problems. Indonesia is currently far more resilient than other developed and developing countries in facing the dynamics of the global economy. Nevertheless, BI and other relevant government and institutions continue to strive to keep the rupiah stable.
By : Rikky,S*)
