Rupiah Exchange Rate in 2014 To Be Maintained at Around IDR10,500 – IDR10,700

Jakarta, 21/10/2013 MoF (Fiscal) News – Rupiah exchange rate in 2014 will surely be maintained at around IDR10,500 – IDR10,700 per United States dollar. This statement was conveyed by Governor of Bank Indonesia (BI) Agus Martowardojo at the BI’s Annual Budget meeting (ATBI) 2014 with Commission XI of House of Representatives (DPR). “BI predicts rupiah exchange rate to reach IDR10,500 up to IDR10,700 per US dollar,” said Governor of BI. He explained, the target was based on the Indonesia’s economic performance, which was predicted to improve in 2014.

“We believe, global condition will improve in 2014. We set Indonesia’s economic growth target at around 5.8 up to 6.2 percent in that year,” said Governor of BI. Nevertheless, he also warns that the movement of rupiah exchange rate is still volatile towards the global economic trends.

Meanwhile, regarding inflation rate control and financial system in 2014, BI will implement 7 targets and measures. Those targets and measures are stabilizing banking supervision transition to Financial Services Authority (OJK), reinforcing monetary framework and mixture, maintaining strategies for exchange rate stability, and performing foreign exchange and rupiah market deepening, encouraging financial system and macro prudential, enhancing synergy between BI and related financial institutions, and maintaining the implementation of national network and the availability of fit currency for circulation. (nic)