"This is a global phenomenon faced by almost all countries," President Joko Widodo said after a ceremony of Ramadhan reciting of Qur`anic verses held by PP (Executive Board) Muhammadiyah at the Muhammadiyah University here on Tuesday.
Jokowi said he had passed an instruction to the Coordinating Minister for Economy and the Finance Minister to take concrete steps to control rupiah fluctuations.
The president said he appreciated the anticipatory steps taken by Bank Indonesia to forestall impact of the fluctuations.
"I believe Bank Indonesia has taken the right steps with its monetary policies," he said.
The government itself continues to prepare steps within its area or authority to help Bank Indonesia to prop up rupiah, which has lost much its value against the dollar over the past month, he said.
He said he was pleased to note that thanks to the steps taken rupiah began to regain some of its losses in value lately.
"Yes, thanks God, yesterday we saw rupiah began to strengthen to the level of less than 14,000 per dollar," he said.